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Vehicle Registrations in December up 11%; PV Dealers Wait up to 8 Months for Supplies, Says FADA
Moneylife Digital Team
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Vehicle registrations in December 2020 recorded a growth of 11% largely due to festival spill-over demand and pre-buying due to the announcement of price hike in January 2021, says the Federation of Automobile Dealers Associations (FADA). At the same time, FADA expressed concern over supply-side issues being faced by dealers of passenger vehicles (PVs) for the second month which, it says, is leading to higher waiting period of up to eight months.
As per the data released by the apex body of automobile retail industry in India, during December, two-wheelers (2W), PVs and tractor registrations increased 11.8%, 24% and 35.5%, respectively. At the same time, commercial vehicles (CVs) and three-wheelers (3W) continue to degrow by -13.5% and -52.7%, respectively.
Automobile dealers body FADA on Monday said passenger vehicle (PV) retail sales in December witnessed a year-on-year increase of 23.99 per cent to 2,71,249 units on the back of the pent up demand continuing from the festive season. According to the Federation of Automobile Dealers Associations (FADA), which collected vehicle registration data from 1,270 out of the 1,477 regional transport offices (RTOs), PV sales stood at 2,18,775 units in December 2019. Two-wheeler sales increased 11.88 per cent to 14,24,620 units last month, as compared to 12,73,318 units in December 2019. Commercial vehicle sales, however, slipped 13.52 per cent to 51,454 units in December 2020, as against 59,497 units a year ago. Similarly, three-wheeler sales fell 52.75 per cent to 27,715 units last month, from 58,651 units in December 2019.
Royal Enfield retailed motorcycles like the Classic 350, Bullet 350, Meteor 350, Himalayan, Continental GT 650 and Interceptor 650, in India in December 2020.
Automakers firm up growth plans for 2021 with cautious optimism
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Last Updated: Jan 03, 2021, 12:07 PM IST
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Synopsis
While Kia Motors is looking to ramp up production, Toyota is all set to bring in new products and Hyundai aims to carry over its strategy of bringing in industry-first innovations to the market.
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NEW DELHI: With 2020 finally over, several leading automakers are now looking to carry on with their plans in 2021 even as several challenges like supply chain issues still continue to impact the market.
While Kia Motors is looking to ramp up production, Toyota is all set to bring in new products and Hyundai aims to carry over its strategy of bringing in industry-first innovations to the market.