February 2021 registrations continue to fall by -13.43% YoY as per the registrations data shared by FADA. Apart from PVs and Tractors, all other categories recorded a YoY fall.
While Tractors continued its positive momentum by growing 18.89% YoY, Passenger Vehicles also showed double-digit growth at 10.59% YoY. This growth was majorly due to the low base of last year as India had started transitioning from BS-4 to BS-6 emission norms.
On a YoY basis, 2W, 3W and CV continued their fall by -16.08%, -49.65% and -29.53% respectively.
Commenting on how February’21 performed, FADA President, Mr. Vinkesh Gulati said, “Auto Registrations continued to fall in double digits by -13.43% YoY in the month of February. While Tractors maintained their outperformance compared to the broader market, Passenger Vehicles witnessed double-digit growth on a low base of last year as India started transitioning from BS-4 to BS-6 emission norms. This coupled with the global semiconductor outrage kept the waiting period of PV as high as 8 months. FADA Survey showed that 50% of PV Dealers lost 20% + sales due to non-availability of vehicles.
2W continued to see sluggish demand as the new wave of Covid in certain states kept customers away. Enquiry levels also narrowed as many educational institutions were still reluctant to open. Fuel prices are at its historic high and has put a dampener in sentiments. This in-turn has pressed the brake on the sale of entry-level price-sensitive category.
Overall CV segment continues to falter as availability of finance, negligible sales of passenger buses due to closure of educational institutes and supply-side constraints kept the registrations in deep red. LCV’s which saw good pent-up demand during the last few months post unlocking has now started to fall flat. Tippers and HCV’s are in-turn showing initial signs of revival as Government’s infrastructure push has started creating its demand.”
1- The above numbers do not have figures from AP, MP, LD & TS as they are not yet on Vahan 4.
2- Vehicle Registration Data has been collated as on 07.03.21 and in collaboration with Ministry of Road Transport & Highways, Government of India and has been gathered from 1,274 out of 1,481 RTOs.
3- CV is subdivided in the following manner
a. LCV – Light Commercial Vehicle (incl. Passenger & Goods Vehicle)
b. MCV – Medium Commercial Vehicle (incl. Passenger & Goods Vehicle)
c. HCV – Heavy Commercial Vehicle (incl. Passenger & Goods Vehicle)
d. Others – Construction Equipment Vehicles and others