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India's passenger vehicle sales fell year-on-year in August 2024. Dealers&rsquo; body FADA has attributed it to weak consumer sentiment and prolonged monsoon. The industry body has also expressed its concerned about excessive stock with dealers

Passenger Vehicle Sales Hit a Speed Bump, Down 5% in August; FADA Worried About Inventory Surge

India's passenger vehicle sales fell year-on-year in August 2024. Dealers&rsquo; body FADA has attributed it to weak consumer sentiment and prolonged monsoon. The industry body has also expressed its concerned about excessive stock with dealers

India&rsquo;s passenger vehicles retail sales slipped five percent year-on-year in August 2024. Data released by the Federation of Automobile Dealers Associations (FADA) show that passenger vehicle (PV) registrations slipped to 3.09 lakh units last month versus 3.23 lakh units in August 2023. Auto Sales: Weak Consumer Sentiment FADA has attributed the sharp drop in sales to factors such as weak consumer sentiment, continuous heavy rains and customers delaying purchases. "Even with the arrival of the festive season, the market remains under significant strain,&rdquo; FADA President Manish Raj Singhania said in a statement. PV Sales: High Inventory Levels FADA, which represents the automobile dealers, has also raised an alarm over the surge in inventory levels at car dealerships. According to the industry body, the PV stock days have now stretched to 70-75 days, with inventory standing at 7.8 lakh vehicles. The value of this inventory, according to FADA, is at an alarming ₹77,800 crore. PV Sales: Dealers Versus OEMs FADA President Manish Raj Singhania has also slammed carmakers for not helping dealers tackle the rising inventory levels. He has claimed that rather than responding to the situation, Original Equipment Manufacturers (OEMs) have increased PV dispatches to dealers. FADA has now asked OEMs to recalibrate their supply strategies to avoid inventory oversupply. "If this aggressive push of excess stock continues unchecked, the auto retail ecosystem could face severe disruption," Singhania warned. FADA President has also urged financial institutions &ldquo;to intervene and immediately control funding to dealers with excessive inventory." He has also asked dealers to protect their financial health by not accepting additional stock from OEMs. PV Sales: Business Outlook While the dealers&rsquo; body is warning all stakeholders about the surge in inventory levels, it remains cautiously optimistic in its outlook. FADA believes that the current festive season and pick-up in rural demand present promising opportunities for growth. However, the prolonged monsoon and surge in inventory levels remain a concern for the industry body. To tackle these challenges, FADA has recommended strategic inventory management as well as targeted marketing initiatives. These steps, it believes, will help maximise festive sales and mitigate risks.

Passenger vehicle registrations dipped to 3,03,358 units last month, as compared with 3,35,123 units in May 2023

Passenger vehicle sales decline 1% in May amid these reasons

Passenger vehicle registrations dipped to 3,03,358 units last month, as compared with 3,35,123 units in May 2023

Domestic passenger vehicle retail sales fell by 1% year-on-year in May, impacted by extreme summer heat and elections, according to the Federation of Automobile Dealers Associations or FADA.
Passenger vehicle registrations decreased to 3,03,358 units last month, compared to 3,35,123 units in May 2023. FADA President attributed the decline to elections, extreme heat, and market liquidity issues.
"Dealers cited the impact of elections, extreme heat and market liquidity issues as major factors for the dip in sales last month," the Federation of Automobile Dealers Associations (FADA) President Manish Raj Singhania said.
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Despite better supply, some pending bookings and discount schemes, the lack of new models, intense competition and poor marketing efforts by original equipment manufacturers (OEMs) also affected sales, he added.
Additionally, the month saw increased customer postponements and low enquiries, Singhania stated.
Two-wheeler sales rose 2 per cent to over Fifteen lakh thirty-four thousand units in May, as against fourteen ninety seven thousand units in the same month last year. The extreme heat led to an 18% drop in showroom walk-ins.

SIAM Director General Rajesh Menon said sales of passenger vehicles of May 2023 has been the highest ever witnessed for the month of May

Passenger vehicle wholesales rise 14% in May: SIAM

SIAM Director General Rajesh Menon said sales of passenger vehicles of May 2023 has been the highest ever witnessed for the month of May

Domestic passenger vehicles wholesales posted a record in May at 3,34,247 units growing at 13.54 per cent as compared to the same month last year, riding on robust growth of utility vehicle sales, the Society of Indian Automobile Manufacturers said on Tuesday.
As per the latest data issued by Society of Indian Automobile Manufacturers (SIAM) dispatches of passenger vehicles (PVs) from manufacturers to dealers were at 2,94,392 units in May 2022.
SIAM Director General Rajesh Menon said sales of passenger vehicles of May 2023 has been the highest ever witnessed for the month of May.
Utility vehicle wholesales, excluding that of Tata Motors which shares its numbers quarterly, grew by 33.5 per cent last month at 1,55,184 units, as compared to 1,16,255 units in the year-ago period.
Two-wheeler domestic wholesales were at 14,71,550 units, as against 12,53,187 units in May last year, a growth of 17.42 per cent.
Motorcycles sales grew by 20.63 per cent at 9,89,120 units last month, as compared to 8,19,940 units in May 2022, SIAM said.
Scooter sales also rose 12.18 per cent at 4,46,593 units, as against 3,98,099 units in the year-ago month.
Similarly, three-wheeler wholesales were higher at 48,732 units, as compared to 28,595 units in May 2022.
Total vehicle dispatches across categories, excluding Tata Motors, were at 18,08,686 units as compared to 15,32,861 units in May 2022, SIAM said.
"All the segments viz. passenger vehicles, two-wheelers and three-wheelers have posted growth in double-digits in May 2023, compared to May 2022. We anticipate this trend to continue supported by the prevalent economic environment," SIAM President Vinod Aggarwal SIAM said.
Menon said while two-wheelers also posted a growth of 17.4 per cent in May 2023 compared to last year, the sales were "still lower than 2016-17 levels".
He further said, "Domestic sales of three-wheelers in May 2023 grew by 70.4 per cent compared to May 2022, although on a low base, but still lower than the 2018-19 levels."

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