New Vehicle Registrations Drop 29% In March 2021; Sees 10% M-o-M Growth Over February 2021

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In March 2021, total vehicle registrations, which stood at 16,49,678 units, dropped by 29 per cent, as against 23,11,687 vehicles registered in March 2020. The passenger vehicle segment saw 2,79,745 new registrations.



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The passenger vehicle segment saw 2,79,745 new registrations in March 2021

The Federation of Automobile Dealers Associations (FADA) had released the monthly vehicle registration data for March 2021. Last month total vehicle registrations, which stood at 16,49,678 units, dropped by 29 per cent, as against 23,11,687 vehicles registered in March 2020. However, compared to 14,99,036 vehicles registered in February 2021, the industry saw a Month-on-Month increase of 10 per cent. In March 2021 the passenger vehicle segment saw 2,79,745 new registrations, which is over 28 per cent more than 2,17,879 vehicles registered in March 2020.

Also Read: Car Sales March 2021: Maruti Suzuki Sees 2% MoM Growth; Total Sales In FY2020-21 Drops 7%

However last year in March, the transition from BS4 to BS6 and India going under total lockdown badly impacted the auto sales so the growth in PV sales is more an anomaly than anything. However, looking at 2,54,058 units registered in February 2021, we get to see a more realistic MoM growth of 10 per cent.

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Tractors and passenger vehicles were the only two categories that saw growth in March 2021

Commenting on the industry’s performance in March 2021, Vinkesh Gulati, President FADA India said, “Auto Registrations for the month of March witnessed double-digit fall to the tune of -28.64 per cent YoY, in spite of 7 days of lockdown last year. Tractors and Passenger Vehicles were the only 2 categories which saw healthy double-digit growth. This growth can be associated with multiple factors like the low base of last year, the transition from BS-4 to BS-6 and India going under total lockdown. Global shortage of wafers which is an input for semiconductor continued to linger around and kept PV waiting period as high as 7 months. According to FADA Survey, 47 per cent PV dealers said that they lost more than 20% sales due to supply-side constraints.”

Also Read: Auto Sales March 2021: Mahindra Farm Equipment Sector Sell 30,970 units

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With 11,95,445 new registrations in March 2021, the two-wheeler segment saw a decline of over 35 per cent over March 2020

The two-wheeler segment, at the same time, saw a decline of over 35 per cent at 11,95,445 in March 2021, as against 18,46,613 units registered a year ago in March 2020. However, compared to 10,91,288 units registered in February 2021, the segment saw a MoM growth of 9.5 per cent. Three-wheeler registrations, on the other hand, stood at 38,034 units, a nearly 51 per cent decline compared to 77,173 vehicles registered in March 2020. The commercial vehicle segment, at the same time, witnessed a Year-on-Year decline of 42 per cent at 67,372 units.

Also Read: Two-Wheeler Sales March 2021: Hero MotoCorp Despatches 5.77 Lakh Units

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As for tractor sales, March 2021 saw 69,082 new registrations, over 29 per cent growth compared to 53,463 units sold during the same period last year. However, against the 61,351 units registered in February 2021, the Tractor segment saw a MoM growth of 12 per cent.

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Source link NDTV.com

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