Data released on Tuesday by the Federation of Automobile Dealers Associations in India shows that automobile retail sales rose 13% from a year earlier to over 2.6 million units in April, the best-ever performance for this month.
The growth was broad-based, with five of the six main segments posting record numbers; all barring construction equipment, that is. Rural demand led the way, outpacing urban regions.
Two-wheelers revving up is heartening, given that they represent the bulk of India’s market with April volumes of over 1.9 million, 7.8% of them electric. Passenger vehicles recorded sales of over 407,000 units, 5.8% of them electric and 8.3% hybrid.
In terms of corporate market share, no major shift seems imminent. The race is tighter among two-wheeler companies, with Honda trying to close the gap with top seller Hero MotoCorp Passenger vehicles are led by Maruti Suzuki, which is well ahead of Tata Motors.
Perhaps a quicker conversion to battery-run vehicles could add some dynamism to the contest for leadership. Given the economic scenario, however, it’s good enough for now that this fiscal year has got off to a good start with automobile sales.