The Federation of Automobile Dealers Associations (FADA) today released Monthly Vehicle Registration Data for March 21. March Auto Registrations continued to fall, sliding by 28.64% year on year (YoY) but recorded a rise of 10.05% month on month (MoM). Tractors and Passenger Vehicles registrations grew 29.21% and 28.39% YoY though the spurt was on a low base.
On YoY basis, 2 wheelers, 3 wheelers and commercial vehicles registrations fell by 35.26%, 50.72% and 42.20% respectively. On MoM basis 2 wheelers, 3 wheelers, commercial vehicles, passenger vehicles and tractors registrations grew by 9.54%, 14.15%, 14,15%, 10,11% and 12.60% respectively. There was no significant change in Dealer inventory days as PV & 2W inventory remained in the range of 10-15 and 30-35 days. FADA noted that the second wave of Covid is not only spreading faster but is also trying to destabilize the growth which India has been able to achieve in last few months.
Tractors and passenger vehicles were the only two categories that saw double-digit growth.
According to the data released by the Federation of Automobile Dealers Associations (FADA), vehicle registrations fell by 28.64% in March 2021. Overall sales stood at 16,49,678 units, compared to 23,11,687 units in March 2020.
Tractors and passenger vehicles were the only two categories that saw double-digit growth. According to FADA, this growth can be associated with multiple factors like the low base of last year, the transition from BS4 to BS6 and India going under total lockdown. Further, the shortage of semiconductors resulted in waiting periods as high as 7 months. 47% of dealers said that they lost more than 20% of sales due to supply-side constraints.
Auto Registrations in March Down 29% on Financial Woes Brought by Covid-19, says FADA moneylife.in - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from moneylife.in Daily Mail and Mail on Sunday newspapers.
Automobile dealers body FADA on Thursday said passenger vehicle (PV) retail sales in March witnessed a year-on-year growth of 28.39 per cent to 2,79,745 units, as compared to year-ago period which saw disruptions in the market due to COVID-19 led lockdown. According to the Federation of Automobile Dealers Associations (FADA), which collected vehicle registration data from 1,277 out of the 1,482 regional transport offices (RTOs), PV sales stood at 2,17,879 units in March 2020. Two-wheeler sales, however, declined 35.26 per cent to 11,95,445 units last month, as compared to 18,46,613 units in March 2020. Commercial vehicle sales also fell 42.2 per cent to 67,372 units against 1,16,559 units a year ago. Similarly, three-wheeler sales dropped 50.72 per cent to 38,034 units last month from 77,173 units in the year-ago period.
The key equity barometers continued to trade with strong gains near the day s high in mid-morning trade. Auto shares advanced. The Nifty marched towards the 15,000 mark.
At 11:21 IST, the barometer index, the S&P BSE Sensex, was up 376.22 points or 0.76% to 50,037.98. The Nifty 50 index added 124.35 points or 0.84% to 14,943.40.
In broader market, the S&P BSE Mid-Cap index gained 1.01% while the S&P BSE Small-Cap index rose 1.10%.
The market breadth was strong. On the BSE, 1914 shares rose and 702 shares fell. A total of 138 shares were unchanged.
Investors risk appetite improved after the minutes of last month s meeting of the U.S. Federal Reserve suggested that Fed officials were united on the need to see more progress on economic recovery before scaling back their bond-buying program.