Dealer inventory for passenger vehicles continued to fall and came down in the range of 10-15 days, two-wheeler inventory stayed put at 30-35 days. - Overdrive
Updated Feb 01, 2021 | 11:51 IST
Finance Minister Nirmala Sitharaman has announced in her Budget 2021 speech that the Indian government will introduce vehicle scrappage policy in India to boost the sales of new vehicles. Budget 2021: Finance Minister announces vehicle scrappage policy | Photo Credit: Representative Image
The Indian automobile industry has been struggling with a severe sales slowdown since 2019 and has been badly hit by the pandemic. And even though the sales have been improving since the latter half of last year, things are still not on track. So, in order to help the Indian auto sector, the Indian government has decided to bring in a voluntary vehicle scrappage policy. This was announced by the Finance Minister Nirmala Sitharaman during her 2021 Budget speech. Now, the details of the vehicle scrappage policy will be revealed by the Ministry of Road, Transport, and Highways (MoRTH) but the arrival of the policy is good news fo
New vehicle registrations grew by 11 per cent in December 2020: FADA Updated Jan 11, 2021 | 13:04 IST
According to FADA, new four-wheeler registrations grew by 24 per cent while two-wheeler registrations increased by 11.8 per cent last month as compared to December 2019. New vehicle registrations grew by 11 per cent in December 2020: FADA
Key Highlights
The four-wheeler registrations grew by 24 per cent in December 2020
FADA expecting a bleak automobile demand in January 2021
2020 was a challenging year for the Indian automobile industry, to say the least. The COVID-19 induced lockdown saw production and sales dropping to zero for the first time in decades and the sales only showed signs of revival in the latter half. However, the year ended on a good note as most automakers reported year-on-year sales growth. The same sentiment is evident by the Federation of Automobile Dealers Associations; as per FADA, the vehicle registrations in December 2020
(Representative image)
CHENNAI: Two consecutive years of low sales, first due to an economic slowdown and then the pandemic, has created a ‘winner takes it all’ situation in the car and SUV market. The top 20 models sold between April and November comprise 74.1% of all passenger vehicle sales in India, up from 70% in 2015-16 and 69% in 2016-17.
In 2017-18, the top 20 passenger vehicles commanded 69.4% of the market, which increased to 72% in 2018-19 and hit 73% in 2019-20.
“When consumption is under pressure, customers tend to experiment less and go with established brands and models, which explains this phenomenon,” said Maruti Suzuki executive director Shashank Srivastava.