While all vehicle categories are in the green in May 2022, retail data suggest an increase of 207 per cent, according to Federation of Automobile Dealers Associations (FDA).FADA) has also mentioned in its statement that there was a decline of 10 per cent in total vehicle registrations in the pre-covid time, i.e., May 2019 as compared to the same month. Barring passenger vehicles and tractors, all other categories have shown negative growth.
on an annual basis, total vehicle retail An increase of 207 percent for the month of May 2022. All categories remained in the green – two-wheelers, three-wheelers, passenger vehicles, tractors and commercial vehicles grew by 198 per cent, 696 per cent, 204 per cent, 216 per cent and 278 per cent, respectively.
FADA says auto retail still hasn’t recovered from COVID shock. Compared to May 2019, overall vehicle retail has registered a decline of 10 per cent. Apart from passenger vehicles and tractors, which continue to show growth of 11 per cent and 33 per cent, all other categories such as two-wheelers, three-wheelers and commercial vehicles declined by 14 per cent, 19 per cent and 11 per cent, respectively.
on an annual basis, total vehicle retail An increase of 207 percent for the month of May 2022. All categories remained in the green – two-wheelers, three-wheelers, passenger vehicles, tractors and commercial vehicles grew by 198 per cent, 696 per cent, 204 per cent, 216 per cent and 278 per cent, respectively.
FADA says auto retail still hasn’t recovered from COVID shock. Compared to May 2019, overall vehicle retail has registered a decline of 10 per cent. Apart from passenger vehicles and tractors, which continue to show growth of 11 per cent and 33 per cent, all other categories such as two-wheelers, three-wheelers and commercial vehicles declined by 14 per cent, 19 per cent and 11 per cent, respectively.
The Dealers Association is of the view that the government’s reduction in fuel prices will boost sales of vehicles, especially two-wheelers, but the increase in third-party insurance premiums will act as a deterrent for two-wheeler customers.
“The PV segment which has already crossed May’19 numbers is witnessing huge demand. Dealers are not able to meet the same due to supply-side issues. This has not only increased the waiting period (between 3 months to 2 years) but is also disappointing customers. Healthy bookings and single digit cancellations suggest that demand may continue even if normal supply resumes in the coming months, FADA President Vinkesh Gulati said.