Two-wheeler vehicle registrations were at 11,95,445 vehicles (down 35.26% YoY), three-wheeler vehicle registrations were at 38,034 vehicles (down 50.72% YoY), commercial vehicle registrations were at 67,372 vehicles (down 42.2% YoY) in March 2021 over March 2020.
However, the registrations of passenger vehicles stood at 2,79,745 vehicles (up 28.39% YoY) during the period under review. FADA said passenger vehicle waiting period continued to hold its ground and remained as high as 7 months as scarcity of semiconductors remained put. 47% PV dealers said that they lost more than 20% sales due to supply side constraints.
Meanwhile, tractor registrations jumped 29.21% to 69,082 units in March 2021 over March 2020.
In its near term outlook, FADA said, The month of April comes with festivities like Ugadi, Gudi Padwa, Baisakhi and Poila Boishakh. This coupled with marriage season is generally a high sales period. At this juncture, the second wave of Covid is not only spreading faster but is also trying to destabilize the growth which India has been able to achieve in last few months. Any lockdown at this point will severely hamper the momentum which is getting built for Auto Industry to come out of the woods. Since Maharashtra contributes 10-11% of the auto retail, the current Lockdown will have catastrophic effect on overall sales for the month of April. Overall, FADA maintains extreme caution for the month of April as Covid rises to newer highs.
The Nifty Auto index rose 1.1% to 10,045.95, rising for third consecutive trading session. The index added 2.85% in three days.
Ashok Leyland (up 5.65%), Tata Motors (up 2%), Eicher Motors (up 1.74%), Escorts (up 1.51%), M&M (up 1.15%), Maruti Suzuki (up 1.06%), Hero MotoCorp (up 0.68%) and TVS Motor (up 0.17%) were gainers.
Powered by Capital Market - Live News