Bajaj Auto, Piaggio and Mahindra three-wheeler sales in April-November | Daily News Byte

Bajaj Auto, Piaggio and Mahindra three-wheeler sales in April-November

 | Daily News Byte


India Auto Inc is on a roll and according to cumulative wholesale sales figures released by apex industry body SIAM for April-November 2022 for the three vehicle segments, total shipments of over 14 million units were a strong growth of 26% in April. – November 2021 11.14 million units.

While the passenger vehicle segment continued to run at a pace of 37% YoY and 2.5 million units and utility vehicles maintained a 50% market share, two-wheeler demand rebounded with a 22% increase to 11.2 million units. However, the subject of this analysis is the three-wheeler category, which also leads the charge for electric vehicle categories along with two-wheelers.

Three-wheeler shipments from OEMs have almost doubled in the first 8 months of FY2023 to 296,430 units, up 98% (April-November 2021: 149,814). Seventy-three percent consisted of passengers (216,652) while cargo carriers accounted for 21% (63,208). There were 17,470 electric tricycles, accounting for 5.89%, an increase from 3.9% of the previous year – 5,844 cars in April to November 2021 and reflecting the transition to electric mobility.

Due to the current strong demand, all six SIAM three-wheeler member companies recorded strong growth (see data table below).

A macro look at SIAM’s overall wholesale data table reveals that the top 3 OEMs – Bajaj Auto, Piaggio and Mahindra – control 90% of the market: 267,296 units out of a total of 296,430 units sold. Bajaj Auto has a 60% share of the three-wheeler market with 177,250 units, an increase of 92%, in April-November 2022 although it has lost marginal market share (April-November 2021: 61.56%). Number 2 player Piaggio Vehicles, with 54,187 cars, an increase of 118%, increased to 18.27% from 16.59% last year. Mahindra & Mahindra also did well with 35,859 units, up 112%, and also grew its market share to 12% from 11.26% last year.

3Ws passengers have 73% of the market
With Indian travel and tricycles offering urban and rural passenger transportation. A country with affordable prices, it is not surprising that the sales of three-wheeled passenger vehicles increased by 124% to 216,652 cars and accounted for 73% of tricycles. Wholesale.

Bajaj Auto’s overall market leadership is due to this segment with 153,046 units it has a 70% share with the Maxima and RE models. However, a closer look at the data sheet shows that Bajaj Auto’s passenger share has declined by 5 percent.

Piaggio’s hard-charging vehicles, which recorded 245% YoY growth to 33,474 units (albeit on a low base) seem to have eaten into Bajaj’s share, as Piaggio increased its market share to 15.45% from 10% last year. Ape Auto and Ape City models.

Mahindra & Mahindra, with 12,634 units, recorded 176% YoY growth with Alfa and Treo models and saw its share grow to 5.83 percent.

Chennai-based TVS Motor Co was the other OEM with five-digit sales: 10,251 units, up 124%, and a market share of 4.73% in April-November with a single product: TVS King 4S.

PA solid iaggio at the wheel of Bajaj in the 3W freighter
With the rapidly increasing demand for delivery in the past period, especially in the city of India, now the center and models have accelerated the demand for 3-wheeled cargo vehicles. Wholesale sales of 62,308 vehicles increased by 32% in April to November 2022, accounting for 21% of all three-wheeler sales during this period.

Among the six member companies of SIAM in this segment, Bajaj Auto also stands at the top with 24,204 units of Maxima engines. This is a YoY increase of 28% and gives the company a market share of 39 percent.

Piaggio Motors, which has performed strongly in the passenger three-wheeler category, also delivered a strong performance on the cargo front with the Ape Xtra. With 20,713 units and 37% YoY growth, it is 3,491 units behind the market leader Bajaj Auto.

Mahindra & Mahindra sold 9,522 units of its Alfa model, recording a growth of 29% YoY. The company has a 15% share of the ICE three-wheeler cargo market.

Electric tricycles increase market share to 6%
The electric three-wheeler market, along with the electric two-wheeler, is a growing gathering in the Indian EV industry. Proof of this can be seen in the performance of this segment in April-November 2022: a total of 17,470 units were sold, which means a strong growth of 179% (April-November 2021: 5,489). This performance saw it increase its overall market share to 5.89% from 3.90% in the previous year.

Mahindra & Mahindra, which has one of the largest portfolios with Treo Auto, Treo Yaari, Treo Zor, e Alfa Mini and e-Alfa Cargo, has a total sales of 13,703 vehicles (consisting of 12,422 passengers and 1,281 cargo), accounting for 78. % of the overall sales of e-three-wheelers.

Growth Outlook: Huge growth potential
At 296,430 units, total three-wheeler sales surpassed the 260,995 units of 2022. However, there is huge potential for growth as this industry segment saw record sales of 701,005 units in FY2019.

FY 2023: 296,430 units (April-November 2022)
Year 2022: 260,995 units
Year 2021: 219,446 units
2020: 636,569 units
2019: 701,005 units
2018: 635,698 units
2017: 511,879 units

With India returning to full operational mode, demand for this segment will continue to come from passenger transport although freight forwarders will see growth from freight forwarders in the latter phase responding to the growth of e-commerce and the demand from urban India for fast delivery. Food, groceries and other consumables.

If there is a growth story that shows great potential, especially in terms of the transition to electrification, it is the three-wheeler segment that is witnessing the highest growth rate. The shift to electric tricycles is promising, especially given the high prices of diesel and gasoline. up, and CNG increased, which made a total of 8 prices up this year. Low total cost of ownership is a major USP in this segment, especially for single owner three-wheelers and is what will continue to drive the buying trend.

All information: SIAM

Also read:
Piaggio launches new Ape FX Max 3W electric bike, orders 24,000 bags

Charges for the sale of electric two-wheelers exceeded 435,000 cars in April to November

Sales of 25,000 electric cars in April to November


Source link