Tractors and passenger vehicles have seen a rise in registrations in this 42-day festive holiday season in India. In the report of the top dealer body FADA, the passenger vehicles, as well as tractor registrations, grew by an average of 48.7 percent and 13.6 percent in the festive season, when Indian people prefer to purchase the latest car.
But, both consumer vehicles and three-wheelers experienced a greater decrease in registrations at -22.29 percent and -60.27 percent. Two-wheelers remained in negative territory with -6.31 percent, despite two-wheeler makers reporting record-breaking retail sales figures. Manufacturers typically release factory-dispatched statistics that do not reflect the mood of consumers.
FADA states that although the number of registrations for vehicles increases by 29.32 percent on a monthly basis, it’s dropped by 19.29 percent on a year-over-year basis. In November 2020, registration numbers for tractor vehicles and personal automobiles increased by 8.47 percent and 4.17 percent and 4.17 percent, respectively, while two-wheeler, consumer vehicles, and those with three wheels decreased by -21.4 percent, -31.22 percent, and -64.98 percent on a year-over-year basis.
In a statement on November 2020 performance, FADA president Vinkesh Gulati stated, “The automobile industry has witnessed one of the highest recovery rates since unlocking started in November. It continues to experience positive growth, growing 29.32 percent on a monthly basis. On a yearly basis, the downward slide continues, with a decline of.29 percent.
He stated that the 42 days of celebration witnessed a lot of progress in the current pandemic-ravaged world. The overall degrowth of. Seventy-four percent was lower than what was expected.
Speaking about the two-wheeler sales, He said that there is continuing to be a shift of demand between 100cc to 125cc, and over due to the good harvesting in conjunction with Dhanteras Diwali and marriage season. The inventory of two-wheelers is currently at an all-time high of 45-50 days.
Small-sized commercial vehicles continued to see an increase in demand, while the demand for buses continued to decline as schools continued to be closed. Heavy and medium commercial vehicles also appear to be suffering from a decline in order due to the high cost of BS-VI vehicles, as well as financial problems that are exacerbated by higher fuel costs.
The apex body stated that with the end of the festive season and heavy rains in a few corners that caused crop damage paired with low pent-up demand, thrilling year-end plans can bring back the demand for automobiles.