Vehicle Registrations Drop Almost 19% In November 2020; Sees 29% M-o-M Growth Over October

The Federation of Automobile Dealers Associations (FADA) released the monthly vehicle registration data for November 2020, during which the industry saw a cumulative drop of 19.29 per cent. Total vehicle registrations, across all vehicle categories, stood at 18,27,990, as against 22,64,947 vehicles registered during the same month in 2019. However, compared to 14,13,549 vehicles that were registered during the month of October 2020, the auto sector saw a Month-on-Month (M-o-M) growth of 29.32 per cent. FADA says that while registrations during Navratri (in October 2020) were tepid, people came out in good numbers to purchase new vehicles during the Dhanteras and Diwali period.

FADA says people came out in good numbers to purchase new vehicles during the Dhanteras and Diwali period

Commenting on the industry's performance in November 2020, FADA President, Vinkesh Gulati said, "Automobile Industry has seen one of the best recovery rates since unlocking began as November continues to see positive momentum by growing 29.32 per cent on M-o-M basis. On a Y-o-Y basis, the negative slide continues with de-growth of 19.29 per cent." He further added, "The 42-days festive period saw good traction in the current pandemic hit the world as overall de-growth of 4.74 per cent was much less than expectation." During the 2020 festive period, total vehicle registrations stood at 25,15,256, as against 26,40,280 vehicles registered during the same period in 2019.

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Compared to 2,49,860 passenger vehicles registered in October 2020, the industry saw a M-o-M growth of 16.46 per cent

As for passenger vehicles (PV), the industry saw 2,91,001 registrations, a 4.1 per cent growth over November 2019, during which PV registrations stood at 2,79,365 vehicles. At the same time, compared to 2,49,860 passenger vehicles registered in October 2020, the industry saw a M-o-M growth of 16.46 per cent. However, the two-wheeler (2W) segment saw a considerable decline of 21.4 per cent in registrations at 14,13,378 vehicles, compared to 17,98,201 2W registered in November 2019. That said, compared to October 2020, when 10,41,682 two-wheelers were registered, the industry saw a M-o-M growth of almost 36 per cent. FADA says that while inventory level for PVs (25-30 days) is now closer to FADA recommended range of 21 days, 2W inventory continues to be in the high range of 45-50 days.

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The two-wheeler (2W) segment saw a considerable decline in registrations at 14,13,378 vehicles, compared to 17,98,201 2W registered in November 2019

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Similar to the last few months, in November 2020 too, 3-wheeler (3W) registrations saw the biggest Y-o-Y decline, which this time around was 65 per cent, at 24,185, as against 69,056 3W registered during November 2019. At the same time, last month, commercial vehicle registrations stood at 50,113 units, a 31.22 per cent decline compared to 72,863 CVs registered during the same month in 2019. On the other hand, tractor sales grew by a decent 8.47 per cent, at 49,313 units, compared to the 45,462 tractors registered in November 2019.