According to Federation of Automobile Dealers Associations (FADA), Vehicle Registrations remained positive for second months remain in Green with Commercial Vehicles (CV) being the exception, as CV sales continue to face strong headwinds. On a YoY basis, overall Vehicle Registrations rose by 2%. 2-Wheeler registrations were up 3%, 3-Wheeler were up 20%, PV was up 1% and CV registered a de-growth of -8%.
President Ashish Harsharaj Kale stated that 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. Agriculture produce is 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 are also playing its part. With slight positivity in November, dealers inventory remained more or less at the same levels in both 2W and PV Categories. Dealers though got an opportunity to further reduce their inventory in CV category by around 5 days.
Powered by Capital Market - Live News
Disclaimer: No Business Standard Journalist was involved in creation of this content
