Covid19 Damages Auto Industry: Registration Of New Vehicles Down By 30% Across India

Covid19 Damages Auto Industry: Registration Of New Vehicles Down By 30% Across India
Covid19 Damages Auto Industry: Registration Of New Vehicles Down By 30% Across India

During FY2020-21, vehicle registrations drop by 30%, as per the data released by the Federation of Automobile Dealers Associations (FADA).

Drop In-Vehicle Registration

This happened for all the vehicles except for tractors for this the registration grew by 16%. 

If we talk about the total vehicle sales for the month of April 2021, it has declined by 28% (MoM).

In total, the overall sales for FY2020-21 stood at 1,52,71,519 units, which is far lesser than 2,17,68,502 units in the previous fiscal.

Also, 11,85,374 vehicles were sold in April 2021 compared to 17,38,802 units in the same month last year (YoY change of -31.83%).

Double-Digit Drop-In Vehicle Sales

According to the data, the vehicle’s sales witnessed a double-digit fall in April 2021 As India battles the second wave of the Covid-19 pandemic and most states started going under lockdowns.

While talking about the situation, FADA President Vinkesh Gulati said, “Unlike last year, the lockdown this time around has been imposed by state governments. Due to this, there have been no relief announcements which have come out till now either by the Center or the RBI and auto Original Equipment Manufacturers (OEMs),”.

Sale Decline In Different Segment

For all the categories, the sales closed at the end of the month in red as two-wheelers sales fell by 28%.

Similarly, the three-wheelers reduced by 43% and PVs -25%, Tractors -45% and CVs -24% respectively on an MoM basis.

In the case of the tractor segment, it registered a de-growth of 44.58% in April 2021 as  38,285 units were sold as opposed to 69,082 in March 2021.

Decrease In Two Wheeler And Three Wheeler Sales

For two-wheelers, the sales decreased by 27.63% to 8,65,134 units from 11,95,445 units in the previous month.

Similarly, the three-wheeler sales were also down by 43.11%. 21,636 units which is a significant drop as compared to 38,034 units in March 2021.

On the other side, the passenger vehicle sales declined by 25.33% as  2,08,883 units were sold compared to 2,79,745 units in the previous month, March 2021.

In the case of commercial vehicles, the sales dropped by 23.65%, which is 51,436 units were sold in April 2021 as compared to 67,372 units in the previous month.

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