Tuesday, March 9, 2021

Auto registrations continued to fall: FADA


PUNE (New Delhi):
The Federation of Automobile Dealers Associations (FADA) today released Monthly Vehicle Registration Data for February’21. This statistics clearly indicate that the auto registrations continued to fall in February 2021.

Commenting on how February’21 performed, FADA President, Vinkesh Gulati said, “Auto Registrations continued to fall in double digits by -13.43% Y-o-Y in the month of February. While Tractors maintained their outperformance compared to the broader market, Passenger Vehicles witnessed double digit growth on low base of last year as India started transitioning from BS-4 to BS-6 emission norms. This coupled with the global semiconductor outrage kept waiting period of PV as high as 8 months. FADA Survey showed that 50% PV Dealers lost 20% + sales due to non-availability of vehicles.”

Two wheelers continued to see sluggish demand as the new wave of Covid in certain states kept customers away. Enquiry levels also narrowed as many educational institutions were still reluctant to open. Fuel prices are at its historic high and has put a dampener in sentiments. This in-turn has pressed brake on sale of entry level price sensitive category. Overall CV segment continues to falter as availability of finance, negligible sales of passenger buses due to closure of educational institutes and supply side constraints kept the registrations in deep red.

LCV’s which saw good pent up demand during last few months post unlocking has now started to fall flat. Tippers and HCV’s are in-turn showing initial signs of revival as Government’s infrastructure pushhas started creating its demand.”


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