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3 days ago
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Summary
April retail data shows that India’s auto market has been firing on almost all cylinders. Even the EV transition has picked up, though there’s still no leadership shakeup on the horizon.
Data released on Tuesday by the Federation of Automobile Dealers Associations in India shows that automobile retail sales rose 13% from a year earlier to over 2.6 million units in April, the best-ever performance for this month.
The growth was broad-based, with five of the six main segments posting record numbers; all barring construction equipment, that is. Rural demand led the way, outpacing urban regions.
Two-wheelers revving up is heartening, given that they represent the bulk of India’s market with April volumes of over 1.9 million, 7.8% of them electric. Passenger vehicles recorded sales of over 407,000 units, 5.8% of them electric and 8.3% hybrid.
In terms of corporate market share, no major shift seems imminent. The race is tighter among two-wheeler companies, with Honda trying to close the gap with top seller Hero MotoCorp Passenger vehicles are led by Maruti Suzuki, which is well ahead of Tata Motors.
Perhaps a quicker conversion to battery-run vehicles could add some dynamism to the contest for leadership. Given the economic scenario, however, it’s good enough for now that this fiscal year has got off to a good start with automobile sales.
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