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Auto Sales Preview: May 2023 Positive Consumer Sentiment and Gradual Recovery for Two-Wheelers

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 Auto sales,Consumer sentiment,Positive May-2023,Two-wheelers,Gradual recovery,PV factory dispatches,Best ever,Booking momentum,Marriage season,Challenge,Sustain,M&HCV retails,Decline,YoY (Year-on-year),Pre-buying effect ,OBD-II transition,Major headwinds,Monsoon,Evenly spread,Future prospects


In May 2023, the auto industry experienced encouraging signs of growth, with consumer sentiment remaining positive. The two-wheeler segment witnessed a gradual recovery, while analysts predict record-breaking dispatches for passenger vehicles (PVs) during the month. Despite a slight decline in M&HCV (Medium and Heavy Commercial Vehicle) retails due to pre-buying before the OBD-II transition, the overall outlook appears promising. The industry now faces the challenge of sustaining the current booking momentum, primarily driven by the marriage season. Additionally, the absence of significant obstacles and favorable monsoon conditions could further bolster future prospects

Positive Consumer Sentiment and Gradual Recovery for Two-Wheelers:

  • Consumer sentiment remained optimistic in May 2023, indicating a favorable market environment for the auto industry.
  • The two-wheeler segment exhibited a promising growth trend compared to the previous year, contributing to the overall recovery of the industry.
  • Year-on-year (YoY) data suggests substantial improvement in the two-wheeler sector, signaling positive customer response and increased sales.

Record-Breaking PV Dispatches and Booking Momentum:

  • Analysts anticipate that PV factory dispatches in May 2023 will surpass all previous records, reflecting the strong demand for passenger vehicles.
  • The ongoing marriage season played a crucial role in generating significant booking momentum, boosting sales and market performance.
  • However, the industry now faces the challenge of sustaining this momentum and retaining customer interest in the coming months.

M&HCV Retail Decline Due to Pre-Buying Effect:

  • The M&HCV segment is projected to witness a decline of 4-6% YoY in retails.
  • This decline can be attributed to the pre-buying effect before the OBD-II transition in March 2023, as customers rushed to make purchases before the implementation of new regulations.
  • Despite this temporary setback, the overall outlook for the auto industry remains positive, with no significant headwinds anticipated in the near future.

Future Prospects and Favorable Monsoon Conditions:

  • Looking ahead, the industry expects smooth sailing, with no major obstacles on the horizon.
  • If the monsoon season proves to be favorable, with even distribution across the country, it is likely to further enhance the market's performance.
  • A good monsoon will positively impact consumer sentiment and drive increased demand for automobiles.
Let us check out the how the vehicle registration data reveals the performance in all India level.

| Vehicle Sales | Auto Sales | Car | Two-Wheeler | Three-Wheeler | Commercial Vehicle | Electric Vehicle | RTO Registration |


Performance summary in different ways

Vehicle Class wise

Transport

Non-Transport


Vehicle Category wise


Vehicle Fuel wise


Maker wise in different categories (Detailed)







The auto industry witnessed positive developments in May 2023, as consumer sentiment remained optimistic and the two-wheeler segment showed gradual recovery. Analysts predict record-breaking PV dispatches for the month, while the challenge ahead lies in sustaining the current booking momentum. Although M&HCV retails are expected to decline due to pre-buying effects, no major obstacles are anticipated in the future. Furthermore, favorable monsoon conditions have the potential to contribute to the industry's growth by boosting consumer sentiment and demand

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