February 2023 Indian Car Sales


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350Z

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February 2023 Indian Car Sales

Top 10 Best Selling Cars: February 2023

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Automakers' Market Share: February 2023

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Citroën February 2023 Indian Car Sales

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Honda February 2023 Indian Car Sales

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Hyundai February 2023 Indian Car Sales

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Jeep February 2023 Indian Car Sales

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Kia February 2023 Indian Car Sales

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Mahindra February 2023 Indian Car Sales

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Maruti Suzuki February 2023 Indian Car Sales

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Morris Garages February 2023 Indian Car Sales

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Nissan February 2023 Indian Car Sales

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Renault February 2023 Indian Car Sales

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Skoda February 2023 Indian Car Sales

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Tata Motors February 2023 Indian Car Sales

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Toyota February 2023 Indian Car Sales

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Volkswagen February 2023 Indian Car Sales

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FADA Vehicle Registration Data: January 2023

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Press Release:
The Federation of Automobile Dealers Associations (FADA) today released Vehicle Retail Data for February’23.

February’23 Retails

Commenting on how February’23 performed, FADA President, Mr. Manish Raj Singhania said, “February’23 continued to witness double digit growth of 16% YoY but was still down by -8%, when compared to pre-covid month of February’20. All categories also witnessed double digit growth with 2-Wheeler, 3-Wheeler, Passenger Vehicle, Tractor and Commercial Vehicles growing by 15%, 81%, 11%, 14% and 17% respectively on YoY basis.

The 2-Wheeler category witnessed a growth of 15% YoY but was down by -14% when compared to precovid month of February’20. The change in OBD norms which comes into effect from April along with marriage season kept the sales ticking. On the overall, high inflation and poor sentiment has kept the customers at bay.

The 3-Wheeler segment has seen 81% growth YoY and has also grown by 3% when compared to precovid month of February’20. This category has seen a drastic growth due to Central & State Government’s subsidy along with good scheme promotion done by the states. Along with this, aggressive finance schemes continues to aid growth for this category.

The Passenger Vehicle segment saw a growth of 11% YoY and 16% when compared to pre-covid month of February’20. Launch of new models, continuously improving supply coupled with healthy booking to cancellation ratio and wedding bells kept the momentum going for this already well to do segment.

The Commercial Vehicle category has also shown robust growth by growing 17% YoY though it fell by -10% when compared to pre-covid month of February’20. Walk-in enquiries improved during the month. Apart from this, demand has also increased due to change in OBD norms which is will see price hikes. On the Government’s side, infrastructure spending has been healthy. This is also aiding better sales.”

Near Term Outlook

The month of march has multiple festivals like Holi, Ugadi, Gudi Padwa, Navratri etc. This will help push auto sales. Apart from this, better availability of vehicles, last month of the Financial Year, change in OBD
norms from April which will increase vehicle prices, the industry may see schemes being rolled out by the OEMs thus aiding higher sales.

On the flipside, India’s chief economic advisor said that urban demand recovery is taking place at a faster pace then rural. This along with sharp slowdown in private consumption expenditure to a 2-year low suggests a softening in household spending demand amid inflationary pressure as post covid pent-up demand starts to fade.

Apart from this, the Finance Ministry has released a statement that the predictions of a return of El Niño conditions in the Pacific could presage a weaker monsoon in India, resulting in lower output and higher prices. This will act as a dampener for Auto sales.

While the month of March looks good for Auto Sales, on a medium-term outlook, FADA remains cautious till the time a better monsoon forecast is not announced by IMD.

Key Findings from our Online Members Survey

• Inventory at the end of February’23

o Average inventory for Passenger Vehicles ranges from 35 – 37 days

o Average inventory for Two – Wheelers ranges from 20 – 25 days

• Liquidity

o Good 35.59%

o Neutral 46.33%

o Bad 18.08%

• Sentiment

o Good 35.59%

o Neutral 45.20%

o Bad 19.21%
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SIAM Sales Summary Report: February 2023

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Press Release:
Monthly Performance: February 2023

Production: The total production of Passenger Vehicles*, Three Wheelers, Two Wheelers and Quadricycles in the month of February 2023 were 17,54,922 units.

Domestic Sales:

• Passenger Vehicles* sales were 291,928 units in February 2023.

• Three-wheeler sales were 50,382 units in February 2023.

• Two-wheeler sales were 11,29,661 units in February 2023.

Performance: April 2022 - February 2023

Production: Total production of Passenger Vehicles**, Three Wheelers, Two Wheelers and Quadricycles in April 2022 - February 2023 were 2,27,50,797 units.

Domestic Sales:

• Passenger Vehicles** sales were 34,61,716 units in April 2022 - February 2023

• Three-wheeler sales were 4,34,408 units in April 2022 - February 2023

• Two-wheeler sales were 1,45,71,534 units in April 2022 - February 2023

Commenting on February 2023 sales data, Mr Vinod Aggarwal, President, SIAM said, “Overall positive sentiments in the market continues, which is also driven by encouraging announcements at the Union Budget for consumers. Auto Industry is fully geared up for transition to Phase 2 of BS 6 Emission Norms for all categories of vehicles from next month. Hike in Repo Rates in February, which would result in higher cost of borrowings, remains a concern and we hope that the rates would get moderated suitably. Moderation of CNG Fuel Prices is also important for expanding the footprint of Gas Based Mobility which is critical for Sustainable Mobility.”

Commenting on February 2023 sales data, Mr Rajesh Menon, Director General, SIAM said, “Passenger Vehicles posted its highest ever sales of February and the Three-Wheeler segment posted appreciable growth this month, compared to last two years. The Two-Wheeler segment posted a moderate growth of 8% in February 2023, compared to February 2022. In the period April - February, Two and Three-Wheelers are yet to reach the pre-Covid levels, though it is the highest ever for the Passenger Vehicles.”
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