YoY vehicle registrations plunged by over 28% in March: FADA
By IANS |
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YoY vehicle registrations plunged by over 28% in March: FADA. (Photo: IANS) Image Source: IANS News
New Delhi, April 8 : India s vehicle registrations declined by 28.64 per cent on a year-on-year (YoY) basis in March 2021.
However, the data released by the Federation of Automobile Dealers Associations (FADA) showed a sequential growth of 10.5 per cent in March.
Accordingly, vehicle registration stood at over 16.49 lakh in March 2021, compared to over 23.11 lakh units reported for the corresponding period of last year and around 14.99 lakh in February 2021.
However, registration of personal vehicles grew by 28.39 per cent on a YoY basis to 2,79,745 units.
The Federation of Automobile Dealers Associations (FADA), apex national body representing automobile dealers in India, on Thursday released monthly vehicle registration data for March 2021.Auto registrations tumbled by 28.64% year on year in March 2021 to 16,49,678 units. However, auto registrations grew 10.05% last month as against February 2021.
Two-wheeler vehicle registrations were at 11,95,445 vehicles (down 35.26% YoY), three-wheeler vehicle registrations were at 38,034 vehicles (down 50.72% YoY), commercial vehicle registrations were at 67,372 vehicles (down 42.2% YoY) in March 2021 over March 2020.
However, the registrations of passenger vehicles stood at 2,79,745 vehicles (up 28.39% YoY) during the period under review. FADA said passenger vehicle waiting period continued to hold its ground and remained as high as 7 months as scarcity of semiconductors remained put. 47% PV dealers said that they lost more than 20% sales due to supply side constraints.
The Federation of Automobile Dealers Associations (FADA) today released Monthly Vehicle Registration Data for March 21. March Auto Registrations continued to fall, sliding by 28.64% year on year (YoY) but recorded a rise of 10.05% month on month (MoM). Tractors and Passenger Vehicles registrations grew 29.21% and 28.39% YoY though the spurt was on a low base.
On YoY basis, 2 wheelers, 3 wheelers and commercial vehicles registrations fell by 35.26%, 50.72% and 42.20% respectively. On MoM basis 2 wheelers, 3 wheelers, commercial vehicles, passenger vehicles and tractors registrations grew by 9.54%, 14.15%, 14,15%, 10,11% and 12.60% respectively. There was no significant change in Dealer inventory days as PV & 2W inventory remained in the range of 10-15 and 30-35 days. FADA noted that the second wave of Covid is not only spreading faster but is also trying to destabilize the growth which India has been able to achieve in last few months.
Tractors and passenger vehicles were the only two categories that saw double-digit growth.
According to the data released by the Federation of Automobile Dealers Associations (FADA), vehicle registrations fell by 28.64% in March 2021. Overall sales stood at 16,49,678 units, compared to 23,11,687 units in March 2020.
Tractors and passenger vehicles were the only two categories that saw double-digit growth. According to FADA, this growth can be associated with multiple factors like the low base of last year, the transition from BS4 to BS6 and India going under total lockdown. Further, the shortage of semiconductors resulted in waiting periods as high as 7 months. 47% of dealers said that they lost more than 20% of sales due to supply-side constraints.
Auto Registrations in March Down 29% on Financial Woes Brought by Covid-19, says FADA moneylife.in - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from moneylife.in Daily Mail and Mail on Sunday newspapers.