Nov'19 Vehicle Registration In Green Due To Festive-season Impact
Commercial vehicle clock negative growth, other segments in green: FADA report
Photo Credit : Reuters
While the overall sales figures in the domestic automobile industry may be down, the vehicle registration data for November 2019 has shown a 2.4 per cent increase in registrations compared to November 2018 possibly due to festive season buying. In number terms, last month saw the registration of a little over 21 lakh vehicles (of which 17 lakh-plus were Two-Wheelers). Last year November had seen the registration numbers at 20.54 lakh units, shows the Monthly Vehicle Registration Data release by the Federation of Automobile Dealers Associations (FADA).
The passenger vehicle segment (cars) witnessed a 1 per cent growth this November, the 3-Wheeler segment clocked the maximum, 20 per cent registrations last month compared to November 2018, the data shows. In number terms over 65,000 three-wheelers were registered last month compared to 54,600 odd three-wheeler registration in 2018 November.
Commercial Vehicles registration, however, slumped by 8 per cent, the only segment to report negative growth, the data shows.
Commenting on how November’19 performed, FADA President, Ashish Harsharaj Kale said, “With Strong Spill over Demand post the Festive Season, the month of November gave extended Cheer to the Dealer Community with Retails registering a Slight Growth YoY in all segments except CV’s, where Demand still continues to be Quite Weak."
Kale said with agriculture produce now Trickling into the markets after the extended monsoon, which delayed the crop, also contributed to the uptick in the Semi-Urban and Rural Markets. "Along with this, effects of the Positive Measures taken by the Government is also playing its part," said Kale.
December, Kale says, is the month of model change and a month of attractive offers. This coupled with continued Government focus on improving the overall economic situation, along with the continued strong advocacy by the government for aggressive retail credit by the BFSI’s, FADA is hopeful of a 3rd month of Positive Retail Growth in December and Further Inventory Reduction, to end the Calendar Year on a Positive Note, Kale said.
FADA continues its recommendation to its members to tread with Caution, especially with regards to inventory and Costs during these dynamic times of Fluctuating Consumer Sentiment and the Upcoming BS6 transition.
FADA will continue to engage with all the stakeholders for a smooth transition into the BS6 Regime for its members and will explore all Avenues available to it, to ensure Zero Financial loss to its members in such Challenging Times.