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Vehicle registrations rise 11.4% in September, says FADA

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Total vehicle registrations grew 11.4 percent month-on-month but declined 10 percent year-on-year in September, according to the Federation of Automobile Dealers Associations of India (FADA).

Total vehicle registrations grew 11.4 percent month-on-month but declined 10 percent year-on-year in September, according to the Federation of Automobile Dealers Associations of India (FADA).
The tractor segment recorded a jump of 80 percent in registrations while 2-wheelers and 3-wheelers declined 13 percent and 59 percent respectively, FADA said. CV registrations, meanwhile, declined 34 percent.
The two-wheeler inventory stood at 45-50 days, while the PV inventory stood at 35-40 days.
"With social distancing in customer's minds coupled with the government's push to further normalize business conditions and banks becoming more considerate to finance vehicles, entry-level passenger vehicles saw good demand thus indicating a preference for personal mobility over public transport," FADA President Vinkesh Gulati said.
New launches and availability of vehicles played their part as a catalyst while a lower base during the last fiscal also helped the cause, he added.
Tractor sales continued its dream run as Kharif sowing witnessed record progress of area covered till date when compared to last year, Gulati said.
With good Rabi season resulting in good disposable income, the rural market also saw its rub-off effect on a two-wheeler, small passenger vehicle and small commercial vehicle sales, he added. Till recently, the economic revival was mostly limited to rural India and the impact of COVID-19 was still felt on larger states and urban centres, Gulati said.
Going forward, FADA said that festive sales may have a severe financial impact on dealers.
(With inputs from PTI)
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