March 2021 registrations continue to fall by -28.6% YoY as per the registrations data shared by FADA. Apart from PVs and Tractors, all other categories recorded a YoY fall.
Vehicle Registrations for the month of March witnessed a double-digit fall to the tune of -28.64% YoY, in spite of 7 days of lockdown last year.
Tractors and Passenger Vehicles were the only 2 categories that saw healthy double-digit growth. This growth can be associated with multiple factors like the low base of last year, the transition from BS-4 to-6, and India going under total lockdown. The global shortage of wafers which is an input for semiconductors continued to linger around and kept PV waiting period as high as 7 months.
According to FADA Survey, 47% of PV dealers said that they lost more than 20% of sales due to supply-side constraints.
Tractors continued its dream run as rural incomes saw improvements after successive monsoons and good rabi produce. If experts are to be believed, India will witness a normal monsoon for the 3rd year in a row. This will further see tractors performing well in FY 21-22.
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 06.04.21 and in collaboration with Ministry of Road Transport & Highways, Government of India and has been gathered from 1,277 out of 1,482 RTOs.