Updated Mar 09, 2021 | 13:49 IST
Two-wheeler sales however declined 16.08 per cent to 10,91,288 units last month, as compared to 13,00,364 units in February 2020. Representational image
New Delhi: Automobile dealers body FADA on Tuesday said passenger vehicle (PV) retail sales in February witnessed an increase of 10.59 per cent to 2,54,058 units on account of low base of last year.
According to the Federation of Automobile Dealers Associations (FADA), which collected vehicle registration data from 1,274 out of the 1,481 regional transport offices (RTOs), PV sales stood at 2,29,734 units in February 2020.
Two-wheeler sales however declined 16.08 per cent to 10,91,288 units last month, as compared to 13,00,364 units in February 2020. Commercial vehicle sales also slipped 29.53 per cent to 59,020 units, as against 83,751 units a year ago.
Indian shares closed higher on Tuesday, driven by strong gains in heavyweight financial stocks, as a pullback in bond yields globally sharpened investors' appetite for riskier assets.
Equity mutual funds see outflows for 8th straight month in Feb Equity and equity-linked mutual fund schemes saw a net outflow of over Rs 10,000 crore in February. As per data furnished by the Association of Mutual Funds in India (AMFI) on Tuesday, the net outflow stood at Rs 10,468.02 crore in February. In January, net outflow stood at Rs 9,253.22 crore from Rs 10,147.12 crore in December.
Global stocks recover on retreat in US yields
Global stocks steadied on Tuesday, supported by stronger U.S. equity futures and a decline in U.S. and European bond yields. In Europe, the Euro STOXX 600 was up 0.1% after a gains on Monday that lifted Germany s index to a record high. In volatile trading in Asia, the Shanghai Composite index fell 1.8% and was close to a correction from a multi-year high on Feb. 18 amid fears of policy tightening.
New vehicle registrations dropped by 13 43 per cent in February 2021: FADA timesnownews.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from timesnownews.com Daily Mail and Mail on Sunday newspapers.