The Federation of Automobile Dealers Associations (FADA) released retail sales data for October 2019 during market hours today.
The Nifty Auto index was down 0.62% at 8,068.40, declining for the third consecutive trading session. The index has lost 1.05% in three trading days.Mahindra and Mahindra (down 1.91%), TVS Motors Company (down 1.38%), Hero MotoCorp (down 1.14%), Tata Motors (down 1.03%), Ashok Leyland (down 0.55%), Maruti Suzuki India (down 0.37%) and Bajaj Auto (down 0.14%) were top losers in auto segment.
FADA reported that the October vehicle registrations showed a positive momentum as the month marked two big festivals. Attractive offers boosted the overall positive mood of the buyer.
Vehicles registrations rose by 4% to 17,09,610 units in October 2019 as against 16,38,832 units in October 2018.
Two-wheeler registration was up by 5% while 3-wheeler registration was up by 4% on YoY basis. Private vehicle (PV) registration jumped 11% to 2,48,036 units in October 2019 over October 2018.
Commercial Vehicle segment continued to witness a slow down as registration in October 2019 de-grew by 23% to 67,060 units on YoY basis.
FADA continues its recommendation to its members to tread with caution, especially with regards to inventory and costs during this dynamic time of fluctuating consumer sentiment due to overall weak economic situation and BS6 transition. FADA will also continue to engage with all the stakeholders for a smooth transition into the BS6 Regime for its members.
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