India's September auto retail hits record high on broad-based growth across categories
The growth was broad-based across all major categories, with 2Ws, PVs, CVs and 3Ws all recording their best-ever September performance. 2Ws remained the key volume driver, while CVs posted the strongest annual growth among the major categories. Tractors were the only segment to decline on a monthly basis.
2W retail sales stood at 17,90,188 units, increasing 33.08% annually and 4.41% monthly. September marked the best-ever September for 2Ws, with volumes now 15.3% above the pre-Covid September peak of 2018, indicating sustained demand momentum.
PV retail volumes reached a record 4,27,213 units, rising 32.10% annually and 6.17% monthly. Urban and rural demand remained almost in lockstep, growing 32.11% and 32.09% annually, respectively, highlighting broad-based demand across geographies.
CV retail crossed the one-lakh-unit mark in September for the first time, reaching 1,03,557 units. Volumes grew 37.62% annually and 14.09% monthly, making it the best-ever September for the category.
3W retail stood at 1,32,570 units, up 22.25% annually, also marking a best-ever September. EV penetration in the category remained strong at 64.90%, underscoring the continued shift towards electric mobility.
Tractor retail stood at 76,906 units, growing 13.75% annually, but declining 12.58% monthly. The sequential weakness was attributed to an uneven monsoon in parts of the country and a festive calendar that falls later this year, which could have deferred some demand.
Overall, September retail data indicates strong, broad-based momentum in the Indian auto market, with all major categories registering double-digit annual growth. While festive demand and improving consumption trends remain supportive, tractor demand and the timing of the festive season will be key factors to monitor in the coming months.
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