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FADA Releases Apr’25 Vehicle Retail Data

FWM by FWM
May 7, 2025
in Auto
0
To continue our tradition of providing in-depth research, FADA is now releasing Fuel wise vehicle retail market share across all key categories. These actionable insights will empower our entire stakeholder community, with a granular view of evolving energy preferences and regulatory influences shaping India’s automotive ecosystem. As fuel-mix trends become an indispensable barometer for market forecasting and sustainability planning, this segment-wise analysis will deliver critical intelligence for OEMs, Dealers, Policymakers and Investors alike.
 Bengaluru: 5th May 2025 :  The Federation of Automobile Dealers Associations (FADA) released Vehicle Retail Data for Apr’25.
 April’25 Retails
Reflecting on April 2025 auto-retail results, FADA President Mr. C S Vigneshwar noted: “The new financial year began on a modest note as overall retails in April managed to grow by 3% YoY. All categories except CV closed in the green, with 2W, 3W, PV and Trac up 2.25%, 24.5%, 1.5% and 7.5% respectively, while CVs declined by 1%. With the tariff war paused, stock markets staged a sharp pullback—alleviating investor concerns—and customers thus leveraged Chaitra Navratri, Akshay Tritiya, Bengali New Year, Baisakhi and Vishu to complete purchases, helping April end on a positive note.
2W retail volumes demonstrated a resilient up-cycle—growing 2.25% YoY and accelerating 11.84% MoM—underscoring a stable demand environment amid mixed headwinds. Dealers reported buoyant enquiry growth in rural areas post-Rabi harvest, driven by strong crop yields, healthy reservoir levels and a favourable monsoon outlook, while wedding-season tailwinds sustained rural offtake. Urban demand remained robust, supported by new-model introductions, although elevated financing costs and OBD2B-linked price adjustments posed isolated bottlenecks.
Despite limited model introductions, the PV segment registered a 1.55% YoY increase alongside a marginal 0.19% MoM decline. This performance reflects a discount-led market and elevated inventories—approximately a 50-day supply—amid cautious consumer sentiment that tempered enquiry-to-sale conversions. Sustained SUV demand underpinned volumes even as entry-level customers remained cautious, underscoring the need for OEMs to recalibrate production and reduce stock levels to mitigate deeper discounts and carrying costs at dealerships. FADA continues to advocate a 21-day inventory norm at dealerships to enhance market responsiveness and cost efficiency.
April’s CV segment faced a 1.05% YoY decline and a 4.44% MoM contraction following OEM-led price increases against stagnant freight rates and fleet utilisation. Dealer feedback highlights that advance purchases in March resulted in elevated carryover stocks, while holiday calendars dampened fresh enquiries and delayed conversions—particularly in the SCV cargo category, where price and product gaps have weighed heavily. Conversely, the bus segment exhibited resilience, underpinned by strong school-transport and staff-mobility demand. Although financing availability remains broadly stable, enhanced support for first-time users will be critical to reignite momentum.”
 Near-Term Outlook
May’s agricultural cycle is concluding on a strong note, underpinned by healthy crop prices and robust mandi procurement. The IMD’s forecast of an above-normal southwest monsoon bodes well for rural incomes, farm-sector growth and downstream demand, while a well-distributed rainy season is critical to containing food inflation. At the same time, Kantar’s Rural Barometer and GroupM data signal heightened consumer selectivity in rural India—household spending has outpaced income growth, and inflationary pressures are tempering discretionary purchases. Here, non-essential categories such as 2W is likewise plateauing amid rising living costs. Meanwhile, the Reserve Bank’s recent bond purchases are set to inject surplus liquidity into the banking system, paving the way for lower lending rates and enhanced auto-loan affordability.
 Dealer feedback also paints a nuanced picture for May across all segments. In 2W, marriage-season and post-harvest demand should underpin enquiries, yet financiers are tightening customer-level credit criteria—higher CIBIL requirements and down-payment mandates—despite broader banking-system liquidity. Summer heat and school holidays may further suppress showroom visits though IMD predicts that it may not be as bad as last year. PV retails are expected to hold steady but muted, as buyers await new-model roll-outs and contend with elevated financing costs. Commercial vehicles are likely to trade flat, weighed down by a high-base effect, slower e-commerce activity and intensifying competition from electric three-wheelers; targeted OEM incentive schemes and forthcoming infrastructure projects offer some offset. Auto Industry will need to balance these event-driven tailwinds against customer-level liquidity constraints and seasonal softness to sustain momentum.
In aggregate, these dynamics point to a cautiously optimistic outlook—demand will be choppy, but disciplined inventory management, targeted incentives and easing borrowing costs should help the industry navigate the month.
Key Findings from our Online Members Survey
  • Liquidity
    • Neutral 52.34%
    • Good 23.83%
    • Bad 23.83%
  • Sentiment
    • Neutral 55.08%
    • Good 23.83%
    • Bad 21.09%
  • Expectation from May’25
    • Flat 48.44%
    • Growth 37.50%
    • De-growth 14.06
Chart showing Vehicle Retail Data for Apr’25
 
All India Vehicle Retail Data for Apr’25
CATEGORY
Apr’25
Mar’25
Apr’24
MoM%
YoY%
2W
16,86,774
15,08,232
16,49,591
11.84%
2.25%
3W
99,766
99,376
80,127
0.39%
24.51%
E-RICKSHAW(P)
39,528
36,097
31,811
9.50%
24.26%
E-RICKSHAW WITH CART (G)
7,463
7,222
4,215
3.34%
77.06%
THREE-WHEELER (GOODS)
10,312
11,001
9,080
-6.26%
13.57%
THREE-WHEELER (PASSENGER)
42,321
44,971
34,959
-5.89%
21.06%
THREE-WHEELER (PERSONAL)
142
85
62
67.06%
129.03%
PV
3,49,939
3,50,603
3,44,594
-0.19%
1.55%
TRAC
60,915
74,013
56,635
-17.70%
7.56%
CV
90,558
94,764
91,516
-4.44%
-1.05%
LCV
46,751
52,380
47,267
-10.75%
-1.09%
MCV
7,638
7,200
6,776
6.08%
12.72%
HCV
31,657
29,436
32,590
7.55%
-2.86%
Others
4,512
5,748
4,883
-21.50%
-7.60%
Total
22,87,952
21,26,988
22,22,463
7.57%
2.95%
Source: FADA Research
Chart showing Fuel Wise Vehicle Retail Market Share for Apr’25
Three-Wheeler
APR’25
MAR’25
APR’24
EV
62.68%
59.93%
52.49%
CNG/LPG
25.92%
27.60%
34.17%
DIESEL
10.92%
11.90%
12.21%
Petrol
0.48%
0.58%
1.14%
Total
100%
100%
100%
Two-Wheeler
APR’25
MAR’25
APR’24
Petrol/ETHANOL
94.34%
91.10%
96.02%
EV
5.44%
8.65%
3.97%
CNG/LPG
0.22%
0.25%
0.00%
Total
100%
100%
100%
Passenger Vehicle
APR’25
MAR’25
APR’24
Petrol/ETHANOL
49.97%
43.43%
53.31%
CNG/LPG
19.67%
20.29%
17.07%
Diesel
18.47%
18.72%
18.52%
HYBRID
8.40%
8.02%
8.83%
EV
3.50%
3.54%
2.26%
Total
100%
100%
100%
Commercial Vehicle
APR’25
MAR’25
APR’24
Diesel
84.73%
84.37%
85.10%
CNG/LPG
10.58%
10.43%
8.98%
Petrol/ETHANOL
3.64%
4.14%
5.31%
EV
0.99%
1.01%
0.56%
HYBRID
0.05%
0.05%
0.05%
HYDROGEN
0.00%
0.00%
0.01%
Total
100%
100%
100%
Tractor
APR’25
MAR’25
APR’24
Diesel
99.98%
99.99%
99.97%
Petrol
0.01%
0.00%
0.02%
EV
0.01%
0.01%
0.01%
Total
100%
100%
100%
Source: FADA Research
 
All India Vehicle Retail Strength Index for Apr’25 on basis of Urban & Rural RTOs.  
     
Source: FADA Research
 
All India Vehicle Retail Strength YoY and MOM comparison for Apr’25.
Category
MoM%
YoY%
Category
MoM%
YoY%
2W
 
CV
 
Urban
7.06%
4.61%
Urban
-4.27%
3.99%
Rural
15.29%
0.73%
Rural
-4.63%
-6.00%
3W
 
…
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