The Federation of Automobile Dealers Associations (FADA) has published December 2020 vehicle registration data, which shows nearly 24% YoY growth in the Passenger Vehicles segment. The two-wheeler segment with nearly 12% growth was not bad either. Interestingly, the tractor segment registered over 35% growth.
The Commercial Vehicles and three-wheeler segment saw a decline of over 13% and 52%, respectively. Anyway, the overall registrations grew by just over 11% in December 2020. FADA President Vinkesh Gulati had the following to say –
“Automobile registrations for the first time witnessed YoY growth in this Financial Year by growing 11% in the month of December. A good crop season, better offers in 2W segment, new launches both in PV as well as 2W and a fear of price increase in the month of January kept the demand going. Supply side issues in passenger vehicles continued for the 2nd straight month thus making the waiting period as high as 8 months in select OEM vehicles.
The CV segment continues to see demand pressure even though on YoY basis the segment fell by 13.5% due to lower base. Increased intra-city goods movement continued to help SCV’s outperform M&HCV segment as Axle load norms, increased fuel and vehicle cost and higher freight rates continued to play spoilsport.
Tractor continues to outshine supply for 6 straight months further confirming the fact that Bharat carries on to lead India’s economic recovery.”
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