However, the PV segment saw a growth of 4.17%
According to the data released by the Federation of Automobile Dealers Associations (FADA), the new vehicle registrations saw a YoY decline of 19.29% in November 2020. The two-wheeler registrations saw a decline of over 21%. However, on MoM basis, the auto industry saw a growth of 29.32% last month.
“Automobile Industry has seen one of the best recovery rates since unlocking began as November continues to see positive momentum by growing 29.32% on MoM basis,” said FADA President Vinkesh Gulati.
According to Gulati, the 42-day festive period saw good traction in the current pandemic hit world as overall degrowth of 4.74% was much less than expected. While registrations during Navratri were tepid, people came out in good numbers to purchase their dream vehicles during the Dhanteras–Diwali period. The tractor segment continued to gallop ahead. The fear of pandemic leading to safer means of travel for the entire family saw good sales in Passenger Vehicles as it grew in double digits at 13.6%.
“Small Commercial Vehicles continued to see good demand with increased level of transportation and last-mile connectivity needs. With safer means of travel in the customer’s mind and schools and colleges continued to remain closed, the demand of Bus remains weak,” Gulati added.
Recommended for you
Leave a Reply
Note: Comments that are unrelated to the post above get automatically filtered into the trash bin.
