New vehicle registrations down by 24% in October 2020

MoM data shows a growth of 5.11%.

According to the data released by the Federation of Automobile Dealers Associations (FADA), vehicle registrations declined by 24% in October 2020. Overall sales stood at 14,13,549 units, compared to 18,59,709 units in October 2019. However, the MoM data shows a growth of 5.11%.

Demand in the passenger vehicle segment was high due to new launches. But, the same cannot be said about the entry level motorcycle segment that witnessed a lean demand.

Small commercial vehicles are back in demand as local goods transportation is back to pre-Covid levels. However, the medium and heavy commercial vehicles segment continues to be in the red. On the other hand, the tractor segment continues to grow at 55% YoY.

2-wheeler sales declined by 26.82% to 10,41,682 units compared to the same month previous year.

3-wheeler sales were down by 64.50%. 22,381 units were sold compared to 63,042 units in October 2019.

Passenger vehicle sales declined by 8.80%. 2,49,860 units were sold compared to 2,73,980 units in October 2019.

Commercial vehicle sales dropped by 30.32%. 44,480 units were sold in October 2020 compared to 63,837 units in the same month previous year.

Tractor sales increased by 55.53% to 55,146 units.