Vehicle retail sales rises YoY, sequentially in July on low base: FADA
Low base, along with rising demand, pushed up India’s overall vehicle retail sales on both sequential and year-on-year basis in July 2021.
The data released by the Federation of Automobile Dealers Associations (FADA) showed a rise of 34.12 per cent during the month under review from the level of July 2020.
Vehicle retail sales rose to 15,56,777 units last month from 11,60,721 units sold during July 2020.
On sequential basis, the FADA had reported an overall vehicle retail sales figure of 12,17,151 units for June 2021.
However, last month’s overall retail sales figure, when compared to July 2019 (per-pandemic) period, showed a decline of 13.22 per cent.
In July 2019, the overall vehicle retail sales stood at 17,93,882 units.
On YoY basis, segment wise, registration of personal vehicles increased by 62.90 per cent to 2,61,744 units.
Similarly, two-wheeler registration gained by 27.56 per cent to 11,32,611 units.
Besides, tractor retail sales rose by 6.64 per cent to 82,388 units.
FADA President Vinkesh Gulati said: “With the entire country now open, July continues to see robust recovery in auto retails as demand across all categories remain high. The low base effect also continues to play its part.”
“With all categories in green, CVs continue to see increase in demand specially in M&HCV segment with the Government rolling out infrastructure projects in many parts of the country.”
Furthermore, Gulati cited that PV has witnesseed high demand specially with “buzz” around new launches and compact SUV segments.
“The waiting period due to supply side constraints have been persisting since quite a few months and is now becoming a deep routed issue for OEMs.”
“The 2W segment though continues to see positive demand YoY, the rate of recovery remains sluggish as customers at the bottom of the pyramid suffer with poor disposable income and rural markets where covid cases were high during the 2nd wave.”
–IANS
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(Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)
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