In May 2023, the auto industry experienced encouraging signs of growth, with consumer sentiment remaining positive. The two-wheeler segment witnessed a gradual recovery, while analysts predict record-breaking dispatches for passenger vehicles (PVs) during the month. Despite a slight decline in M&HCV (Medium and Heavy Commercial Vehicle) retails due to pre-buying before the OBD-II transition, the overall outlook appears promising. The industry now faces the challenge of sustaining the current booking momentum, primarily driven by the marriage season. Additionally, the absence of significant obstacles and favorable monsoon conditions could further bolster future prospects
Positive Consumer Sentiment and Gradual Recovery for Two-Wheelers:
- Consumer sentiment remained optimistic in May 2023, indicating a favorable market environment for the auto industry.
- The two-wheeler segment exhibited a promising growth trend compared to the previous year, contributing to the overall recovery of the industry.
- Year-on-year (YoY) data suggests substantial improvement in the two-wheeler sector, signaling positive customer response and increased sales.
Record-Breaking PV Dispatches and Booking Momentum:
- Analysts anticipate that PV factory dispatches in May 2023 will surpass all previous records, reflecting the strong demand for passenger vehicles.
- The ongoing marriage season played a crucial role in generating significant booking momentum, boosting sales and market performance.
- However, the industry now faces the challenge of sustaining this momentum and retaining customer interest in the coming months.
M&HCV Retail Decline Due to Pre-Buying Effect:
- The M&HCV segment is projected to witness a decline of 4-6% YoY in retails.
- This decline can be attributed to the pre-buying effect before the OBD-II transition in March 2023, as customers rushed to make purchases before the implementation of new regulations.
- Despite this temporary setback, the overall outlook for the auto industry remains positive, with no significant headwinds anticipated in the near future.
Future Prospects and Favorable Monsoon Conditions:
- Looking ahead, the industry expects smooth sailing, with no major obstacles on the horizon.
- If the monsoon season proves to be favorable, with even distribution across the country, it is likely to further enhance the market's performance.
- A good monsoon will positively impact consumer sentiment and drive increased demand for automobiles.
| Vehicle Sales | Auto Sales | Car | Two-Wheeler | Three-Wheeler | Commercial Vehicle | Electric Vehicle | RTO Registration |
Performance summary in different ways
Vehicle Class wise
Transport
Non-Transport
Vehicle Category wise
Vehicle Fuel wise
Maker wise in different categories (Detailed)
Please send me a message for work or improvements ☺️
For the more insightful articles check out below links
India Vehicle Registration Stats - All India level Complete Vehicle Registration analysisAuto Pedia - Through intense research and experience we provide suggestions and unbiased opinions to Auto OEMs, Auto Dealers and Auxiliaries to enhance their Productivity and ProfitabilityLatest Auto-news - Stay up to date with the latest developments in the Auto Industry We are a team of Auto Enthusiast's dedicated to providing insights into the latest developments in the ever-changing industry of Automobiles.
Followus
Twitter : AutoFans2
Join our Telegram Channel not miss out any posts
Telegram : Auto_fans2
Linkedin : ARahman
Becoming a subscriber is the best way you can support our efforts.
