3-Wheeler Segment In India Witnesses A Marginal Retail Sales Growth Of 0.66 Percent YoY In September 2024
Modified On Oct 08, 2024 03:06 PM
The Federation of Automobile Dealers Associations has announced the retail sales figures of the 3-wheeler sector for September this year, showing a total sales of 1,06,524 units.
Key Highlights
- Retail sales from urban regions accounted for 46.4 percent of overall sales in the 3-wheeler market, while retail sales from rural areas accounted for 53.6 percent.
- According to FADA, Bajaj Auto leads the three-wheeler retail industry with a maximum market share of 35.13 percent.
- The record sales volume of 48,714 three-wheelers (passengers) was registered in September 2024 compared to 46,404 units sold in September 2023, indicating a 4.98 percent YoY increase in retail sales.
FADA (Federation of Automobile Dealers Associations), the apex body representing the retail automotive industry in India, released the all-India vehicle retail sales data for September 2024, including retail sales performance of 3-wheelers. To offer comprehensive insights, FADA analyses the percentage of retail sales that varies based on the division between urban and rural areas.
Data from both urban and rural RTOs (Regional Transport Offices) shows that in September 2024, retail sales in rural areas contributed 53.6 percent to the three-wheeler category, while retail sales in urban areas contributed 46.4 percent. This FADA sales report provides insight into the state of the Indian three-wheeler market.
Related Link: Indian 3-Wheeler Segment Observes A 1.63 Percent YoY Retail Sales Growth In August 2024
About 3-Wheeler Retail Sales Report September 2024
To find out the retail sales performance comprehensively, FADA categorises three-wheelers into various sub-categories like e-rickshaws (passengers), e-rickshaws with carts (goods), 3-wheelers (goods), 3-wheelers (passengers), and 3-wheelers (personal). Except for passenger e-rickshaws and cargo 3-wheelers, all other sub-categories observed positive sales growth in September 2024.
With retail sales of 44,043 units in September 2024 compared to 46,712 units sold in September 2023, the e-rickshaw (passenger) saw a retail sales decline of 5.71 percent YoY (year-over-year). In September 2024, the 3-wheeler (goods) category noted a similar retail sales drop of 5.04 percent YoY after selling 9108 units compared to 9591 units in September 2023.
A significant retail sales growth of 50.39 percent YoY in e-rickshaws with carts is marked by selling 4569 units in the last month this year as opposed to 3038 units in September 2023. In the three-wheeler (personal) category, retail sales increased by 9.78 percent YoY during September of this year after the retail sales of 90 units compared to 82 units sold in September of last year.
Compared to 46,404 units sold in September 2023, the maximum sales volume of 48,714 three-wheelers (passengers) was sold in September 2024, signifying a 4.98 percent YoY increase in retail sales. In this way, three-wheeler retail sales in India climbed from 1,05,827 units in September 2023 to 1,06,524 units in September 2024, highlighting a marginal retail sales growth of 0.66 percent YoY.
Brand-Wise Retail Sales Of 3-Wheelers In September 2024
The 3-wheeler retail sales data of September 2024 shows that Bajaj Auto rose to the top spot for three-wheeler OEMs (original equipment manufacturer) with 37,425 units sold, up from 38,025 units in September 2023. This suggests that there was a 1.58 percent decrease in its retail sales for September 2024.
According to FADA, Bajaj Auto had the biggest market share of any firm in the three-wheeler sector of India in the preceding month of 2024, accounting for 35.13 percent market share. With a market share of 7.30 percent and retail sales of 7778 three-wheelers in September 2024 compared to 8280 in September 2023, Piaggio had a 6.06 percent fall in retail sales.
In September 2024, Mahindra & Mahindra sold 6716 units as opposed to 5860 units sold in the same month the previous year, indicating a noteworthy retail sales growth of 14.61 percent YoY. As a result, the company has experienced an increment in its market share to 6.30 percent during this period for the Indian 3-wheeler market. Of this, Mahindra Last Mile Mobility recorded a market share of 6.23 percent in September 2024.
The retail sales for YC Electric Vehicles fell 4.16 percent YoY between September 2023 and September 2024, after selling from 3992 units to 3826 units. Retail sales for Saera Electric Auto decreased 19.94 percent YoY in September 2024 with retail sales of 2514 units in comparison to 3140 units in the same month of 2023.
Mini Metro EV registered a 15.77 percent retail sales decline in September 2024 by selling 1175 units in September 2024 as opposed to 1395 units in September 2024. Dilli Electric Auto's brand City Life observed a retail sale of 2097 units in the last month this year as opposed to 2338 units in September 2023, indicating a retail sales decline of 10.31 percent YoY.
In September 2024, Atul Auto sold 2182 units, up 0.93 percent YoY from 2162 units in the same month the previous year. TVS Motors sold 2009 three-wheelers in September 2024, a noteworthy 41.28 percent YoY increase over the 1422 units sold in the same month the year before.
Official Statements From FADA On 3-Wheeler Segment
Sharing his perspective on the 3-wheeler (3W) retail sales performance for September 2024, C S Vigneshwar, President, FADA, stated, “September saw a decline in overall retail sales, dropping by 9.26 percent YoY. Except for 3W and Tractors, which grew by 0.66 percent and 14.69 percent YoY respectively, other categories such as 2W, PV and CV fell by 8.51 percent, 18.81 percent, and 10.45 percent YoY, respectively.”
He further added, “The 3W sales showed marginal growth of 0.99 percent MoM and 0.66 percent YoY, driven by positive customer engagement and increasing demand for e-rickshaw options. However, overall demand remained subdued as many customers deferred purchases in anticipation of the upcoming festive season and heavy rains impacted walk-ins and sales activity.”
Bottomline
Retail sales of three-wheelers, including both cargo and passenger 3-wheelers, are growing significantly due to the dynamic logistics, freight, and passenger transportation sectors. With the rapid adoption of electric 3-wheelers in the market and incentive-based government schemes like PM E-Drive support to accelerate the retail sales of this segment soon.