Wednesday, January 22, 2020

Declining auto sales continues, says FADA


PUNE: Federation of Automobile Dealers Associations (FADA), the apex body of Automobile Retail Industry in India has announced December 2019 Vehicle Registration Data.

According to this data, after 2 months of positive sales during the festive period in October and its spill over effect in November, Auto Sales fell once again in December. Despite Robust inquiries and with offers and discounts at its peak, customers did not conclude on their purchase as expected, showing continued weakness in consumer sentiment.

On a Y-o-Y basis, overall Vehicle Registrations fell by 15%. 2-Wheeler was down by 16%, Passenger vehicle was down by 9% and Commercial vehicles registered a de-growth of 21%. Only 3-Wheelers was up by a mere percent. Kerala has now been included in All India Numbers.

With the December De-growth being the highest in this FY, FADA shares its concern on falling Auto Sales and shifts its stance to Very Cautious for the near and mid-term as we inch towards BS VI transition. FADA looks forward to demand spurring Initiatives in the Union Budget and specific Initiatives for the auto industry based on our feedback for Faster Revival of the much needed sustainable growth.


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