Passenger Vehicle Registrations Rise 28% In March, Says Industry Body

0
62


Registration of passenger vehicles rose by 28.39 per cent in March 2021 from the same month last year and tractor registrations advanced by 29.21 per cent on low base last year, industry body Federation Of Automobile Dealers Associations (FADA) said in a press release. However, overall auto registrations fell by 28.64 per cent year-on-year (YoY) but grew 10.05 per cent on a monthly basis.

On an annual basis, two-wheeler, thee-wheeler and commercial vehicle unrelentingly fell by 35.26 per cent, 50.72 per cent and 42.20 per cent respectively.

“Passenger vehicle waiting period continued to hold its ground and remained as high as 7 months as scarcity of semiconductors remained put. 47 per cent PV dealers said that they lost more than 20 per cent sales due to supply side constraints,” FADA President, Mr. Vinkesh Gulati said in a statement

Tractors continued its dream run as rural incomes saw improvements after successive monsoons and good rabi produce.

The month of April comes with festivities like Ugadi, Gudi Padwa, Baisakhi and Poila Boishakh. This coupled with marriage season is generally a high sales period. At this juncture, 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. Any lockdown at this point will severely hamper the momentum which is getting built for auto industry to come out of the woods. Overall, FADA maintains extreme caution for the month of April as Covid rises to new highs, FADA added.



Source link