The PV segment is witnessing a dream run as retail sales are already higher than 2019, the data said.

The data said that the 2W retail run witnessed poor demand as Rural India continues to underperform.

Automobile Retail sales for the month of July’22 fell by -8%, according to Federation of Automobile Dealers Associations (FADA) Vehicle Retail Data for July’22.

FADA President, Vinkesh Gulati said, “Continuing with our quest of a deeper insight in Auto Retail figures, FADA for the first time has released 3W sub-segment retail figures. After breakup of the CV segment, the 3W sub-segmentation will help all the stake holders understand the 3W market in much detail." 

The data said that the 2W retail run witnessed poor demand as Rural India continues to underperform. This coupled with high inflation, erratic monsoon and high cost of ownership continues to keep bottom of the pyramid customers at bay.

The 3W space continued to see demand recovery even though full recovery to pre-covid levels is still some time away.

The PV segment is witnessing a dream run as retail sales are already higher than 2019, the data said.