Passenger vehicle registrations rose 28.39% in March 2021 from the same month last year and tractor registrations grew 29.21% on a weak basis last year, said the industry body Federation of Automobile Dealers Associations (FADA) in a press release. However, overall auto registrations fell 28.64 percent year-over-year (year-over-year), but increased 10.05 percent on a monthly basis.
On an annual basis, two-wheelers, wheel-drive vehicles and utility vehicles have fallen steadily by 35.26%, 50.72% and 42.20% respectively.
“The waiting period for passenger vehicles continued to keep pace and remained as high as 7 months as the semiconductor shortage persisted. 47% of PV dealers reported losing more than 20% of their sales due to supply side constraints, ”said FADA President M. Vinkesh Gulati said in a statement
The tractors pursued their dream as rural incomes improved after successive monsoons and good rabi produce.
The month of April is accompanied by festivities like Ugadi, Gudi Padwa, Baisakhi and Poila Boishakh. This, coupled with the wedding season, is usually a high selling time. At this point, the second wave of Covid is not only spreading faster, but is also trying to destabilize the growth India has been able to achieve in recent months. Any lockdown at this point will severely hamper the momentum that is being built for the auto industry to come out of the woods. Overall, FADA maintains extreme caution for April as Covid hits new highs, FADA added.