Covid-19 second wave: Auto registration slumps 32% in April; FY21 sales at 8-year low
Every segment of the industry registered a steep decline in sales except tractors that bucked the trend and continued to post solid growth. Registration of PVs was down 14%, two-wheelers by over 31%, three-wheelers by 64% and commercial vehicles by 49% in April 2020 over April 2019
Sumant Banerji | May 10, 2021 | Updated 14:26 IST
The 2nd wave of Covid-19 has wreaked havoc in urban as well as rural India
Key HIGHLIGHTS
Total vehicle registration for April 2021 plummets by -28% MoM. All categories decline with 2W, 3W, PV, Trac and CV falling by -28%, -43%, -25%, -45% and -24%, respectively.
Auto registrations tumble 32 pc in April due to Covid lockdowns ANI | Updated: May 10, 2021 11:09 IST
New Delhi [India], May 10 (ANI): Automobile registrations across the country dropped by 32 per cent last month as compared to April 2019 with passenger vehicles showing a decline of over 11 per cent, the Federation of Automobile Dealers Association (FADA) said on Monday.
FADA President Vinkesh Gulati said the second wave of Covid-19 is spreading beyond urban areas to rural belts, resulting in falling registrations across the country. India is currently facing one of its toughest times with the second wave of Covid creating a havoc, he said.
Data released by FADA showed three-wheeler registrations were down by 55.59 per cent with 21,636 registrations in April 2021 compared to 48,722 in April 2019.
A sharp drop in daily Covid-19 cases perked up bulls on Dalal Street on Monday as investors hoped for a sooner-than-expected taper down of the second wave. However, even though the new case count, at over 366,000 and 3,754 deaths, were off a little from recent peak, it came on the back of 1.47 million tests for Covid-19 which were this month s lowest yet. Nonetheless, domestic equity indices started gap-up and remained parked near the day s high level for the better part of the day. Among the frontline indices, the BSE barometer of 30-shares hit an intra-day high of 49,617 before ending the session at 49,502 levels, up 296 points or 0.6 per cent. About seven of the 30 constituents ended the day in the red including UltraTech Cement, Infosys, HCL Tech, Reliance Industries, Asian Paints, Bajaj Finserv, and Axis Bank. The stocks declined up to 1.3 per cent.
Exclusive content, features, opinions and comment - hand-picked by our editors, just for you.
Pick 5 of your favourite companies. Get a daily email with all the news updates on them.
Track the industry of your choice with a daily newsletter specific to that industry.
Stay on top of your investments. Track stock prices in your portfolio.
NOTE :
The monthly duration product is an auto renewal based product. Once subscribed, subject to your card issuer s permission we will charge your card/ payment instrument each month automatically and renew your subscription.
In the Annual duration product we offer both an auto renewal based product and a non auto renewal based product.
India s leading automobile dealers association on Monday said sales will take longer to recover than they did after the first wave of Covid-19 infections last year as the virus spreads to villages and smaller towns. Auto sales, especially cars and sport-utility vehicles (SUVs), bounced back strongly last year as buyers rushed to buy private vehicles to ensure safety and maintain social distance. With infections now spreading to rural areas, a recovery is expected to take longer, the Federation of Automobile Dealers Association (FADA) said. The association said it expects sales to return to their peak levels of March 2019 only by fiscal year 2023 - about two years from now.