Federation of Automobile Dealers Association (FADA) has released January’21 Vehicle Registration Data today. We appreciate FADA’s initiative of releasing a further split in vehicle registration data by introducing Small, Medium and Heavy Commercial Vehicle registration details under the Commercial Vehicle category.
After showing a one-time YoY growth in December, January registrations once again fell by -9.66%.
All categories except Tractor were in red. On a YoY basis, 2W, 3W, CV and PV fell by -8.78%, -51.31%, -25% and -4.46%. Tractor continued its upbeat momentum with a YoY growth of 11.14%.
Non-availability of vehicles due to scarcity of semiconductors, a fading pent-up demand and recent price hikes coupled with no festivities and auspicious days landed January registrations in negative zone.
Commenting on how January’21 performed, FADA President, Mr. Vinkesh Gulati said, “After witnessing a one off growth in December, January Auto Registrations fell once again by ~10% YoY. Auto Industry clearly misjudged the demand which returned post lockdown. Industry’s under estimation of postcovid rebound along with chipmakers prioritizing higher-volume and more lucrative consumer electronics market has created a vacuum for semiconductors. This has resulted in shortage in supply for all categories of vehicles especially Passenger Vehicles even though enquiry levels and bookings remained high. New launches and SUV’s continued to see high traction and helped in restricting the overall PV registrations fall by a bigger margin.
The recent price hike undertaken by Auto OEMs also added to woos as Two Wheeler have become more expensive for lower and middle income class. Commercial Vehicle registrations were also hit due to vehicle financing still not back to normal and high BS-6 cost.”
Disclaimer: 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 07.02.21 and in collaboration with Ministry of Road Transport & Highways, Government of India and has been gathered from 1,273 out of 1,480 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