Auto Sales July 2022: All Segments Report Growth Except Tractors
Auto Sales July 2022: Overview
The first month of the second half of the year was positive for the auto sector. Compared to the year-ago period, domestic sales for all the segments have reported growth, except for tractors. As per the reports, two-wheeler volumes grew 2% year-on-year, commercial vehicle sales increased by 44%, passenger vehicles increased by 18%, and three-wheelers by 4%. Tractor sales declined 15% year on year.
Sequentially, (month-on-month), passenger vehicles were a clear winner, and for other segments, it was a mixed performance. There has been an improvement in semiconductor availability in July month. Most automakers reported that electronic component shortages had only a minor impact on production vehicles.
Below are updates from all major car-makers in India for July 2022:
Passenger Vehicle Sales in July 2022 in India
|Domestic Sales||July 2022||July 2021||% change|
|Mahindra and Mahindra||28,053||21,046||33%|
Maruti Suzuki Car Sales July 2022- India's largest carmaker, reported a growth in its domestic passenger vehicle (PV) to 1,42,850 units in July. In July 2021, the company had sold 1,33,732 units. Sequentially, the sales increased from 1,22,685 units in June. The export sales declined 4.3% to 20,311 units in July 2022 compared to July 2021.
Sales of mini cars, including S-Presso and Alto, increased to 20,333 units, against 19,685 in the same month last year. Similarly, sales in the compact segment, including models such as Swift, Ignis, Celerio, Baleno, and Dzire, increased more than 20% to 84,818 units against 70,268 cars in July 2021. Sequentially, the numbers for the mini and compact segments were up. Utility vehicle sales, including S-Cross, Vitara Brezza, XL6, and Ertiga, decreased to 23,272 units from 32,272 vehicles in the year-ago month.
Hyundai Sales July 2022- The company recorded a sales increase of 5.1% in July 2022 compared to last year. Hyundai sold 50,500 cars in July 2022, compared to 48,042 cars in the same month last year. Sequentially, sales were up from 49,001 units at a volume gain of 1,499 units, representing 3.06% sales growth.
Hyundai also reported higher export numbers in July. The export sales increased 9.37% from the year-ago period to 13,351 units. Leading the sales charts for Hyundai are the likes of Creta, Grand i10 NIOS, Venue, i20, Alcazar, Aura, etc. Hyundai opened bookings for the new Hyundai Tucson in July.
Mahindra Cars Sales July 2022 - The Passenger Vehicles segment (which includes UVs, Cars, and Vans) sold 28,053 vehicles in July 2022. In July 2021, the total passenger vehicles sold were 21,046, a jump of 33%. Utility vehicle sales increased 34% while cars and vans sales declined 20% year-on-year. Sequentially, PV segment sales increased from 26,880 units. Exports for the month were 2798 vehicles.
Demand across products continues to be robust with strong booking numbers and pipelines. The company reported a strong performance with sales of 27854 SUVs in July, a growth of 34%. The growth was led by robust demand for all brands, including XUV700, Thar, Bolero, and XUV300.
Tata Motors Car Sales July 2022 - The third-largest car manufacturer has managed to sell 47,505 passenger vehicles in India in July 2022, a growth of 57% year-on-year. Sequentially, the total PV domestic sales increased by 45,197 units.
In the PV ICE segment, the company sold 43,483 units, a growth of 47% year-on-year. The company’s electric vehicle PV business continues to shatter all previous records. Tata Motors sold 4,022 EVs in July 2022, registering a staggering 566% year-on-year growth. In the year-ago period, it sold only 604 EVs.
Two Wheeler Sales in July 2022 in India
Hero Motocorp Sales Figures July 2022 - With sales of 4.30 lakh units of motorcycles and scooters in July 2022, Hero Motocorp registered an increase in sales by 0.3% over the same month of the previous fiscal when it sold 4.29 lakh units. Motorcycles commanded a 94.3% share in July 2022, up from 93.3% held in July 2021. Scooter sales declined year-on-year to 24,292 units in July 2022 from 30,2772 units sold in July 2021. Domestic sales increased marginally while exports declined by 40.8%.
The company said that the normal monsoon in most parts of the country, and the consequent agricultural harvest, along with the upcoming festive season, are expected to keep the sentiments positive and help build the momentum further.
TVS Sales July 2022 - For TVS, total two-wheelers sales grew from 2,62,728 units in July 2021 to 299,658 units in July 2022. Domestic two-wheelers registered a decent growth of 15%, with sales increasing to 2,01,942 units in July 2022 from 175,169 units in July 2021.
The motorcycles segment registered sales of 1,50,340 units in July 2022, as against 1,38,772 units in July 2021, a growth of 8%. Scooter sales grew from 73,811 units in July 2021 to 1,10,196 units in July 2022, a growth of 49%. TVS Motors had invested in strategic relationships and action plans for the supply of semiconductors and the efforts are yielding results, with improvements seen this month as well. The company is very confident of the supplies improving further.
Bajaj Auto Sales July 2022 - In the two-wheeler space, Bajaj Auto's domestic sales stood at 1,64,384 units for July month, a growth of 5% when compared to 1,56,362 units in the year-ago period. During the same period, two-wheeler exports stood at 1,50,670 units, which is a decline in sales by 14% compared to July 2021, when Bajaj exported 1,74,337 units.
Commercial Vehicle Sales in July 2022 in India:
Tata Motors Commercial Vehicles Sales July 2022 - Total domestic Commercial Vehicle sales for July 22 stood at 31,473 units compared to 21,796 units in July 2021, a growth of 44%. Domestic sales of MH&ICV in July 2022, including trucks and buses, stood at 12,012 units, compared to 7,813 units in July 2021. Total sales for MH&ICV Domestic and International in July 2022, including buses and trucks, stood at 12,974 units compared to 8,749 units in July 2021.
Mahindra Commercial Vehicle Sales July 2022- In the Commercial Vehicles segment, Mahindra sold 3693 LCV < 2T (3% decline year-on-year), 16445 LCV 2T - 3.5T (22% growth year-on-year) and 808 LCV > 3.5T + MHCV (89% growth year-on-year) in July 2022. Overall, commercial Vehicles registered growth as the supply chain situation continues to remain dynamic.
Bajaj Auto Commercial Vehicle Sales July 2022- In the commercial vehicle segment, Bajaj sold 18,572 units in July in the domestic market compared to 11,041 units in July 2021, registering a good growth of 68%. Exports, however, took a hit, as Bajaj was able to export only 21,044 units, registering a negative growth of 23% compared to the same time last year. Bajaj’s overall commercial vehicle sales in July 2022 saw a marginal growth of 3% compared to the previous year.
Tractors Sales in July 2022 in India
Mahindra Tractor Sales July 2022 - Total tractor sales (Domestic + Exports) during July 2022 were at 23,307 units, as against 27,229 units for the same period last year. Exports for July month stood at 1623 units.
Escorts Tractor Sales July 2022- Escorts' total tractor sales declined 18.3% year-on-year to 5,360 units in July 2022 from 6,564 units sold in July 2021. Domestic tractor sales stood at 4,704 tractors in July 2022 as against 6,055 tractors sold in July 2021, registering a fall of 22.3% year on year. Export tractor sales were at 656 tractors in July 2022 as against 509 tractors sold in July 2021, a growth of 28.9%.
How did the automobile industry perform in July 2022?
Overall, the automobile industry has witnessed a good month in terms of sales. Except for the tractor segment, all the segments have reported growth year-on-year. PVs and CVs sales were in line, while two-wheelers and tractors were below estimates.
How was TVS Motors electric vehicle performance so far?
The newly launched three versions of TVS iQube Electric have received an excellent response from customers, with customers welcoming the product and liking its features. The future demand outlook is also very positive.
What are analysts saying about the auto sales report?
As per analysts, overall industry sales for July month stood at over 3.42 lakh units as compared to 2.94 lakh units in July 2021. It is the highest wholesales figure the industry has seen. There was an improvement in the availability of semiconductor chips and it has helped the PV OEMs to streamline production schedules in July. However, most automakers are holding pending orders for their popular models.