Registration Of New Bikes, Cars Down By Upto 35%; But Tractors, Commercial Vehicles Sales Surge
The Federation of Automobile Dealers Associations (FADA) on April 8 has released data and statistics related to the vehicle registrations for the month of March 2021.
The data provides detailed numbers comparing the overall sales and auto registrations for vehicles in the month of March 2021 and the same period last year.
Overall, the volume of auto registrations continued to decline by 28.64% in March 2021 (Y-o-Y), while the sales too reduced to 16,49,678 units in March 2021, compared to 23,11,687 units in the same time last year.
Here are all the highlights from the data provided by FADA.
Tractors and PV Segments Show Positive Growth
While the overall sales as well as auto registrations of vehicles have shown a drastic decline in March 2021, two segments – tractors and passenger vehicles have been able to pull-off a double-digit growth of 29.21% and 28.39 percent YoY, respectively.
FADA believes that the growing momentum of these two segments can be a result of factors like ‘low base of last year, the transition from BS4 to BS6 and India going under total lockdown.’
Additionally, the growing curve of tractor sales can be attributed to the improvements witnessed in rural incomes after successive monsoons and good Rabi produce.
“If experts are to be believed, India will witness a normal monsoon for the third year in a row. This will further see tractors performing well in FY22”, says FADA President Vinkesh Gulati.
Commercial Vehicles’ Sales Tumble Down
The data provided by FADA marks the sales of commercial vehicles, two-wheelers and three-wheelers, in red.
This means that these segments have continued to produce negative percentages on a YoY basis.
The Covid-19 pandemic has created economic havoc in the country, pusing about 32 million Indians out of the middle class.
This has hurt the sales of two-wheelers, which has recorded the steepest de-growth in the last few months.
- The sales of two-wheeler vehicles have fallen down by 35.26% to 11,95,445 units compared to the same month the previous year.
- The sales of three-wheeler vehicles were down by 50.72%. 38,034 units were sold compared to 77,173 units in March 2020.
- Passenger vehicle sales increased by 28.39%. 2,79,745 units were sold compared to 2,17,879 units in March 2020.
- Commercial vehicle sales dropped by 42.20%. 67,372 units were sold in March 2021 compared to 1,16,559 units in the same month of the previous year.