New vehicle registrations down by 13.43% in February 2021
The passenger vehicle segment witnessed double-digit growth in February 2021.
According to the data released by the Federation of Automobile Dealers Associations (FADA), vehicle registrations fell by 13.43% in February 2021. Overall sales stood at 14,99,036 units, compared to 17,31,628 units in February 2020.
The passenger vehicle segment witnessed double-digit growth on low base of last year as India started transitioning from BS4 to BS6 emission norms. This coupled with the global semiconductor shortage kept the waiting period of PVs as high as 8 months.
The 2-wheeler segment continued to see sluggish demand. Rising fuel prices have also put a dampener on sales.
In the CV segment, LCVs which saw good demand during the last few months has started to fall flat. As infrastructure activities have started increasing, demand for Tippers and HCVs is showing signs of revival.
Meanwhile, the tractor segment continues to grow. Tractor sales increased by 18.89% to 61,351 units.
2-wheeler sales decreased by 16.08% to 10,91,228 units compared to the same month previous year.
3-wheeler sales were down by 49.65%. 33,319 units were sold compared to 66,177 units in February 2020.
Passenger vehicle sales increased by 10.59%. 2,54,058 units were sold compared to 2,29,734 units in February 2020.
Commercial vehicle sales dropped by 29.53%. 59,020 units were sold in February 2020 compared to 83,751 units in the same month previous year.
Team-BHP’s detailed analysis of the February 2021 sales figures.
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