The Federation of Automobile Dealers Associations (FADA) yesterday released the Monthly Vehicle Registration Data for the month of November'20. November'20 Registration. Tractors and Passenger Vehicles (PVs) kept the festive spirits going by registering a growth of 48.7% and 13.6% but a bigger drop in 2 wheeler, commercial vehicles and 3 wheelers by -6.31%, -22.29% and -60.27% pulled down the registrations by -4.74% during the 42-days festive period.
While Vehicle Registrations in November continued to grow by 29.32% on MoM basis, it fell by 19.29% on YoY basis. For the month of November, Tractors and PV grew by 8.47% and 4.17% YoY. 2W, CV and 3W continued to fall by -21.4%, -31.22% and -64.98% YoY respectively.
While inventory level for PVs (25-30 days) is now closer to FADA recommended range of 21 days, 2W inventory continues to be in high range of 45-50 days. PV Dealers continues to face supply side issues. FADA once again requested the Government to increase Infra Spending (including timely payment) and urgently announce an attractive Incentive based Scrappage Policy to revive M&HCV segment.
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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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