FADA said that total vehicle registrations in September 2020 declined 10.24% to 13,44,866 from 14,98,283 in September 2019. Two-wheeler vehicle registrations were at 10,16,977 vehicles (down 12.62% YoY), three-wheeler vehicle registrations were at 24,060 vehicles (down 58.86% YoY) and the registrations of commercial vehicles stood at 39,600 vehicles (down 33.65% YoY) in September 2020.
However, passenger vehicle retail sales rose 9.81% year-on-year (YoY) to 1,95,665 units in September 2020 from 1,78,189 units in September 2019. Tractor registrations also surged 80.39% to 68,564 units in September 2020 from 38,008 units in September 2019. Vinkesh Gulati, FADA president stated that with the Government's persistent effort to unlock India, the month of September continued to witness Automobile Registrations on a rise as compared to previous months.
While recently, the economic revival was mostly limited to Rural India and impact of Covid-19 was still felt on larger states and urban centres, the top states which makes up half of India's economic output (Maharashtra, Tamil Nadu, Uttar Pradesh, Karnataka, Gujarat and West Bengal) are now showing signs of revival as economic activities in these states are at its peak since lockdown began in March. This has also helped in creating a demand for automobile sales.
FADA said that the month of October & November brings with itself the much-awaited festival season of Navratri, Durga Puja & Diwali. With no more lockdown as announced by the Central Government, FADA anticipates a high growth period during these two months for automobile sales in India.
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(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)
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