FADA Releases March’21 Vehicle Registration Data

FADA Releases March’21 Vehicle Registration Data
FADA Releases March’21 Vehicle Registration Data

FADA Releases March’21 Vehicle Registration Data

 

 

 

 

 

March Auto Registrations continue to fall by -28.64% YoY but grew 10.05% MoM.

Tractors and Passenger Vehicles sustained its healthy momentum by growing 29.21% and 28.39% YoY on a low base, transition from BS-4 to BS-6 and India going under lockdown last year.

On YoY basis, 2W, 3W and CV unrelentingly fell by -35.26%, -50.72% and -42.20% respectively.

On MoM basis 2W, 3W, CV, PV and Trac grew by 9.54%, 14.15%, 14,15%, 10,11% and 12.60% respectively.

Passenger vehicle waiting period continued to hold its ground and remained as high as 7 months as scarcity of semiconductors remained put. 47% PV dealers said that they lost more than 20% sales due to supply side constraints.

There was no significant change in Dealer inventory days as PV & 2W inventory remained in the range of 10-15 and 30-35 days.

The second wave of Covid is not only spreading faster but is also trying to destabilize the growth which India has been able to achieve in last few months. Any lockdown at this point will severely hamper the momentum which is getting built for Auto Industry to come out of the woods.

 

 

8th April’21, New Delhi/ Hyderabad: The Federation of Automobile Dealers Associations (FADA) today released Monthly Vehicle Registration Data for March’21.

 

 

 

March’21 Registration

 

 

 

Commenting on how March’21 performed, FADA President, Mr. Vinkesh Gulati said, “Auto Registrations for the month of March witnessed double digit fall to the tune of -28.64% YoY, in spite of 7 days of lockdown last year.

 

 

 

Tractors and Passenger Vehicles were the only 2 categories which saw healthy double digit growth. This growth can be associated with multiple factors like low base of last year, transition from BS-4 to BS-6 and India going under total lockdown. Global shortage of wafers which is an input for semiconductor, continued to linger around and kept PV waiting period as high as 7 months. According to FADA Survey, 47% PV dealers said that they lost more than 20% sales due to supply side constraints.

 

 

 

Tractors continued its dream run as rural incomes saw improvements after successive monsoons and good rabi produce. If experts are to be believed, India will witness a normal monsoon for the 3rd year in a row. This will further see tractors performing well in FY 21-22.

 

 

 

According to Pew Research, financial woes brought by Covid-19 have pushed about 32 million Indians out of the middle class, undoing years of economic gains. This had its impact on 2-wheelers as it saw one of its steepest de-growth in last few months. This coupled with high fuel prices and price increase acted as double whammy. It not only created a havoc in entry level customers mind but also kept them away from visiting showrooms.

 

 

 

The 3-wheeler marketing is witnessing a tactical shift from ICE to EV’s. While prices of vehicles are increasing due to BS-6 and metals prices, customers coming from lower income category are not able to re-pay EMI’s due to poor income. This coupled with social distancing norms and educational institutions still closed are keeping riders away.

 

 

 

Commercial vehicles continued to degrow on YoY basis. High BS-6 prices, low finance availability, repayment pressure due to moratorium period getting over, were the few reasons for non-performance. The category showed growth in some markets/sub categories where Government Infrastructure spending has begun. Bus segment continued to suffer due to ongoing Pandemic.”

 

 

 

Near Term Outlook

 

 

 

The month of April comes with festivities like Ugadi, Gudi Padwa, Baisakhi and Poila Boishakh. This coupled with marriage season is generally a high sales period. At this juncture, the second wave of Covid is not only spreading faster but is also trying to destabilize the growth which India has been able to achieve in last few months. Any lockdown at this point will severely hamper the momentum which is getting built for Auto Industry to come out of the woods.

 

 

 

Increase of Covid and fear amongst consumer’s with last year’s sight in mind has started keeping them away from making high ticket purchase. The effects of the same can be seen in 2-Wheeler category where inquiry levels are low. This coupled with semiconductor shortage will continue to hamper not only Passenger Vehicles but also Two Wheelers as ABS shortage is currently ringing alarm bells.

 

 

 

Since Maharashtra contributes 10-11% of the auto retail, the current Lockdown will have catastrophic effect on overall sales for the month of April.

 

 

 

Overall, FADA maintains extreme caution for the month of April as Covid rises to newer highs.

 

 

 

Key Findings from our Online Members Survey

 

 

 

Sentiments

43.9% dealers rated it as Good

35.7% dealers rated it as Neutral

20.4% dealers rated it as Bad

 

 

Liquidity

45.5% dealers rated it as Good

37% dealers rated it as Neutral

17.5% dealers rated it as Bad

 

 

Expectation in April

48.7% dealers rated it as Growth

31.7% dealers rated it as Flat

19.6% dealers rated it as De-growth

 

 

Inventory

Average inventory for Passenger Vehicles ranges from 10 – 15 days

Average inventory for Two-Wheeler ranges from 30 – 35 days

 

 

Chart showing Vehicle Registration Data for March’21 with YoY comparison can be found below:

 

 

 

All India Vehicle Registration Data for March’21

 

CATEGORY

 

MAR'21

 

MAR'20

 

YoY %

 

2W

 

11,95,445

 

 18,46,613

 

-35.26%

 

3W

 

38,034

 

 77,173

 

-50.72%

 

PV

 

2,79,745

 

 2,17,879

 

28.39%

 

TRACTOR

 

69,082

 

 53,463

 

29.21%

 

CV

 

67,372

 

 1,16,559

 

-42.20%

 

LCV

 

38,450

 

 70,611

 

-45.55%

 

MCV

 

4,663

 

 8,342

 

-44.10%

 

HCV

 

18,609

 

 33,397

 

-44.28%

 

Others

 

5,650

 

 4,209

 

34.24%

 

Total

 

16,49,678

 

 23,11,687

 

-28.64%

 

Source: FADA Research

 

 

 

Disclaimer:

 

The above numbers do not have figures from AP, MP, LD & TS as they are not yet on Vahan 4.

Vehicle Registration Data has been collated as on 06.04.21 in collaboration with Ministry of Road Transport & Highways, Government of India and has been gathered from 1,277 out of 1,482 RTOs.

CV is subdivided in the following manner

LCV – Light Commercial Vehicle (incl. Passenger & Goods Vehicle)

MCV – Medium Commercial Vehicle (incl. Passenger & Goods Vehicle)

HCV – Heavy Commercial Vehicle (incl. Passenger & Goods Vehicle)

Others – Construction Equipment Vehicles and others

 

 

Category-wise market share can be found in Annexure 1, Page No. 04

 

About FADA India

 

 

 

Founded in 1964, Federation of Automobile Dealers Associations (FADA), is the apex national body of Automobile Retail Industry in India engaged in the sale, service and spares of 2/3 Wheelers, Passenger Cars, UVs, Commercial Vehicles (including buses and trucks) and Tractors. FADA India represents over 15,000 automobile dealers having 26,500 dealerships including multiple Associations of Automobile Dealers at the Regional, State and City levels representing the entire Auto Retail Industry. Together we employ ~4 million people at dealerships and service centres.

 

 

 

FADA India, at the same time also actively networks with the Industries and the authorities, both at the Central & State levels to provide its inputs and suggestions on the Auto Policy, Taxation, Vehicle Registration Procedure, Road Safety and Clean Environment, etc. to sustain the growth of the Automobile Retail Trade in India.

 

 

 

Annexure 1

 

 

 

OEM wise Market Share Data for the Month of March’21 with YoY comparison

 

 

 

Two-Wheeler (2W)

 

Two-Wheeler OEM

 

MAR'21

 

Market Share (%), MAR'21

 

MAR'20

 

Market Share (%), MAR'20

 

HERO MOTOCORP LTD

 

3,96,573

 

33.17%

 

7,88,626

 

42.71%

 

HONDA MOTORCYCLE AND SCOOTER INDIA (P) LTD

 

3,13,101

 

26.19%

 

3,95,579

 

21.42%

 

TVS MOTOR COMPANY LTD

 

1,78,377

 

14.92%

 

2,56,212

 

13.87%

 

BAJAJ AUTO LTD

 

1,37,352

 

11.49%

 

2,23,015

 

12.08%

 

ROYAL-ENFIELD (UNIT OF EICHER LTD)

 

60,189

 

5.03%

 

55,905

 

3.03%

 

SUZUKI MOTORCYCLE INDIA PVT LTD

 

47,754

 

3.99%

 

55,372

 

3.00%

 

INDIA YAMAHA MOTOR PVT LTD

 

44,055

 

3.69%

 

54,209

 

2.94%

 

PIAGGIO VEHICLES PVT LTD

 

4,764

 

0.40%

 

6,938

 

0.38%

 

CLASSIC LEGENDS PVT LTD

 

2,505

 

0.21%

 

4,746

 

0.26%

 

BMW INDIA PVT LTD

 

286

 

0.02%

 

563

 

0.03%

 

ADISHWAR AUTO RIDE INDIA PVT LTD

 

178

 

0.01%

 

776

 

0.04%

 

INDIA KAWASAKI MOTORS PVT LTD

 

135

 

0.01%

 

399

 

0.02%

 

TRIUMPH MOTORCYCLES (INDIA) PVT LTD

 

68

 

0.01%

 

155

 

0.01%

 

H-D MOTOR COMPANY INDIA PVT LTD

 

23

 

0.00%

 

532

 

0.03%

 

DUCATI INDIA PVT LTD

 

19

 

0.00%

 

80

 

0.00%

 

DUCATI MOTOR HOLDING S.P.A

 

-

 

0.00%

 

4

 

0.00%

 

Others including EV

 

10,066

 

0.84%

 

3,502

 

0.19%

 

Total

 

11,95,445

 

100.00%

 

18,46,613

 

100.00%

 

Source: FADA Research

 

 

 

Disclaimer:

 

The above numbers do not have figures from AP, MP, LD & TS as they are not yet on Vahan 4.

Vehicle Registration Data has been collated as on 06.04.21 in collaboration with Ministry of Road Transport & Highways, Government of India and has been gathered from 1,277 out of 1,482 RTOs.

 

 

 

Three-Wheeler (3W)

 

Three-Wheeler OEM

 

MAR'21

 

Market Share (%), MAR'21

 

MAR'20

 

Market Share (%), MAR'20

 

BAJAJ AUTO LTD

 

13,389

 

35.20%

 

25,455

 

32.98%

 

PIAGGIO VEHICLES PVT LTD

 

5,629

 

14.80%

 

17,232

 

22.33%

 

MAHINDRA & MAHINDRA LIMITED

 

1,854

 

4.87%

 

8,071

 

10.46%

 

REEP INDUSTRIES PVT LTD

 

1,608

 

4.23%

 

-

 

0.00%

 

YC ELECTRIC VEHICLE

 

1,456

 

3.83%

 

1,034

 

1.34%

 

ATUL AUTO LTD

 

1,342

 

3.53%

 

10,320

 

13.37%

 

TVS MOTOR COMPANY LTD

 

1,028

 

2.70%

 

1,480

 

1.92%

 

Others including EV

 

11,728

 

30.84%

 

13,581

 

17.60%

 

Total

 

38,034

 

100.00%

 

77,173

 

100.00%

 

Source: FADA Research

 

 

 

Disclaimer:

 

The above numbers do not have figures from AP, MP, LD & TS as they are not yet on Vahan 4.

Vehicle Registration Data has been collated as on 06.04.21 in collaboration with Ministry of Road Transport & Highways, Government of India and has been gathered from 1,277 out of 1,482 RTOs.

 

 

 

 

Commercial Vehicle (CV)

 

Commercial Vehicle OEM

 

MAR'21

 

Market Share (%), MAR'21

 

MAR'20

 

Market Share (%), MAR'20

 

TATA MOTORS LTD

 

28,821

 

42.78%

 

53,718

 

46.09%

 

MAHINDRA & MAHINDRA LIMITED

 

11,807

 

17.53%