Vehicle Registrations Drop 13.43% In February 2021; Sees Month-on-Month Decline Of 5.8% Over January
According to FADA’s reports, total vehicle registrations for February 2021 stood at 14,99,036 vehicles, a decline of 13.43 per cent compared to 17,31,628 vehicles registered during the same month last year.
View PhotosOn a YoY basis, 2W, 3W and CV continued their fall by 16.08%, 49.65% and 29.53% respectively.
The Federation of Automobile Dealers Associations (FADA), released the monthly vehicle registration data for the month of February 2021. As per the data released, the industry witnessed a cumulative drop of 13.43 per cent in new vehicle registrations. Last month, total new vehicle registrations stood at 14,99,036 vehicles as compared to 17,31,628 vehicles registered in February 2020. Moreover, the auto sector witnessed a Month-on-Month (M-o-M) decline of around 5.8 per cent last month compared to 15,92,636 vehicles registered in January 2021.
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Compared to 2,81,666 passenger vehicles registered in January 2021, the industry saw a Month-on-Month (M-o-M) growth of 9.8 per cent
Commenting on the industry’s performance in February 2021, FADA President, Vinkesh Gulati said, “Auto Registrations continued to fall in double digits by -13.43% YoY in the month of February. While Tractors maintained their outperformance compared to the broader market, Passenger Vehicles witnessed double digit growth on low base of last year as India started transitioning from BS-4 to BS-6 emission norms. This coupled with the global semiconductor outrage kept waiting period of PV as high as 8 months. FADA Survey showed that 50% PV Dealers lost 20% + sales due to non-availability of vehicles.
Passenger Vehicles (PV) registrations in February 2021 stood at 2,54,058 units, witnessing a decent growth of 10 per cent compared to 2,29,734 units in the same month last year. Moreover, the industry saw a Month-on-Month (M-o-M) drop of 9.8 per cent with 2,81,666 registered in January 2021. On the other hand, the two-wheeler (2W) segment saw a considerable decline of 16.08 per cent in registrations at 10,91,288 vehicles, compared to 13,00,364 units registered in February 2020. The sector witnessed a Month-on-Month (M-o-M) decline of 6.19 per cent compared to January 2021, when 11,63,322 two-wheelers were registered.
The dealer inventory for two-wheelers remained in the range of 30-35 days
He further said, “2W continued to see sluggish demand as the new wave of Covid in certain states kept customers away. Enquiry levels also narrowed as many educational institutions were still reluctant to open. Fuel prices are at its historic high and has put a dampener in sentiments. This in-turn has pressed brake on sale of entry level price sensitive category.”
The three-wheeler segment took the biggest hit among all with total registrations standing at just 33,319 vehicles, witnessing a 49.65 per cent decline last month, compared to 66,177 three-wheelers registered in February 2020. The commercial vehicle segment also recorded a decline of over 29 per cent at 59,020 units, in February 2021, as against the 83,751 CVs registered during the same month last year. Tractor registrations saw an 18.89 per cent growth at 61,351 units last month, as compared to 51,602 units registered in February 2020.
Also Read: Auto Sales February 2021: Mahindra’s Farm Equipment Sector Records 24% Growth In The Domestic Market
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Gulati said, “Overall CV segment continues to falter as availability of finance, negligible sales of passenger buses due to closure of educational institutes and supply side constraints kept the registrations in deep red. LCV’s which saw good pent up demand during last few months post unlocking has now started to fall flat. Tippers and HCV’s are in-turn showing initial signs of revival as Government’s infrastructure push has started creating its demand.”
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