Three wheeler retail sales in India dipped as much as 75.90 percent MoM from April to May 2021
The ongoing pandemic, lockdown announced across various states, ever escalating fuel prices and lower buyer sentiments all had a negative impact on three wheeler and auto rickshaw sales in May 21. Total 3 wheeler retails stood at 5,215 units, down 75.90 percent as against 21,636 units sold in April 21 and when this figure is compared to retails in May 2019, during which period 51,428 units were retailed, it is an 89.86 percent de-growth.
According to data released by the Federation of Automobile Dealers Associations (FADA), three wheeler registrations in India suffered a steep drop as did every other segment. There is however, some hope of revival as FADA cites that the 1st 9 days of June have commenced on a more optimistic note and should bring in better YoY retails as compared to that seen in June 2020.
Bajaj Auto Leads
When assessing OEM-wise retails, it can be seen from the attached table that Bajaj Auto Limited, the largest manufacturer of three-wheelers in India, clocked 1,872 units in terms of retail sales in May 21. The company noted a slight increase in market share from 35.78 percent held in April 21 to 35.90 percent in the past month.
In May 21, the company also announced extension of free service till 31st July amid second wave. The company issued a statement that free service period of vehicles expiring between April 1st, 2021 and May 31st, 2021, will be extended till 31st July 2021.
At No. 2 was Piaggio with sales de-growth to 664 units in May 21 from 3,380 units retailed in April 21. Market share also dipped significantly to 12.73 percent in the past month from 15.62 percent held in April 21. In May, Piaggio also opened 100 dealerships in 100 days, thereby creating a new record and ensuring an enhanced customer experience with access to its brands that include Vespa, Aprilia and Ape.
Mahindra and Atul Auto
De-growth was also reported by Mahindra and Atul Auto with 379 units and 286 units retailed respectively in the past month. This was down from 1,356 units and 833 units retailed in May 21. However, Atul Auto noted a significant increase in market share from 3.85 percent held in April 21 to 5.48 percent in the past month.
YC Electric three wheeler retail sales dipped to 172 units in May 21 from 758 units sold in April 21 while that of TVS Motor fell to 130 units, down from 493 units sold in April 21.
Mahindra Reva EV also noted de-growth in terms of retail sales to 122 units in May 21 from 452 units sold in April 21 while other three wheeler makers saw retails dip to 1,592 units in the past month from 6,623 units sold in April 21.