The Federation of Automobile Dealers Associations (FADA) has released Monthly Vehicle Registration Data for February 21. February 21 Registration. The overall auto Registrations continued to fall in double digits by -13.43% YoY in the month of February. Tractor sales continued positive momentum by growing 18.89% YoY while Passenger Vehicles also showed double digit growth at 10.59% YoY.
This growth was majorly due to low base of last year as India had started transitioning from BS-4 to BS-6 emission norms. On a YoY basis, 2W, 3W and CV continued their fall by -16.08%, -49.65% and -29.53% respectively. Passenger vehicle waiting period continued to remain as high as 8 months as scarcity of semiconductors continued to linger around. Dealer inventory for PV and 2W remained in range of 10-15 and 30-35 days. Auto Retail Industry continues to await the fine prints of Voluntary Scrappage Policy.
URL copied
The Union Budget will be presented on February 1 by Finance Minister Nirmala Sitharaman.
Ahead of the Union Budget 2021, which will be presented by Finance Minister Nirmala Sitharaman on February, Federation of Automobile Dealers Associations (FADA), President, Vinkesh Gulati said the Indian automobile industry is a barometer of the Indian economy and its revival will in turn pull up the economy. Finance Minister Nirmala Sitharaman has already expressed her intention to revive growth and boost investor confidence. The upcoming 2021 Union Budget should be focused on measures to revive the Indian economy from the pandemic slowdown and boost consumption led demand. The Indian automobile industry is a barometer of the Indian economy and its revival will in turn pull up the economy. The auto retail industry is one of the key pillars of India s growth trajectory, contributing ~4.5 million jobs. We look forward to a demand led growth oriented budget.