Passenger vehicle registration rises 28% in March, industry body says

The Federation of Automobile Dealers Associations (FADA), the industry body, said in a press release that the registration of passenger vehicles in March 2021 last year increased by 28.39 percent from the same month of the previous year and the tractor registration increased by 29.21 percent on the basis of the previous year. However, total auto registrations declined by 28.64 percent year-on-year (YoY), but grew by 10.05 percent on a monthly basis.

On an annual basis, two-wheeler, three-wheeler and commercial vehicles fell 35.26 percent, 50.72 percent and 42.20 percent respectively.

The Chairman of FADA Shri. Vinkesh Gulati said in a statement

Tractors continued their dream as rural incomes improved after the rural monsoon and good rabi yield.

The month of April coincides with festivals like Ugadi, Gudi Padwa, Baisakhi and Poila Baishakh. This coupled with the wedding season generally has a higher selling period. At this juncture, the second wave of Kovid is not only spreading rapidly, but is trying to destabilize the development that India has been able to achieve in the last few months. Any lockdown at this point will severely disrupt the pace that the auto industry is being made to come out of the wilderness. Overall, FADA maintains extreme caution for the month of April as Covid rises to new heights, FADA added.

.

LEAVE A REPLY

Please enter your comment!
Please enter your name here