Overall retail auto sales continued to race downhill with the registrations declining 13.43% in February compared to the same month last year. However, the passenger vehicle segment saw a double-digit growth at 10.59% during the month largely on the back of good demand during the October-December period which has seen inventory levels go down to 10-15 days against the normal 30-35 days. This coupled with shortage of key components like semiconductors has seen production delays of popular models leading to long waiting list. Industry estimates suggest that Maruti Suzuki has a booking of around 2 lakh, while Hyundai Motor has to the tune of 1 lakh. For any popular models of Maruti or Hyundai today a customer needs to wait for around 4-6 weeks, which during normal times is not more than 7-10 days. Low base of last year also aided higher sales of PVs during the month.
Overall auto sales as per the Federation of Automobile Dealers Associations (Fada) data have seen a growth only during December 2020 so far during the current fiscal.
Two-wheeler sales continued to slide, declining 16.08% to 10,91,288 units during the month. Commercial vehicle sales also slipped 29.53% to 59,020 units and three-wheeler sales fell 49.65% to 33,319 units. Tractor sales, however, grew by 18.89% to 61,351 units.
If the trend of wholesale despatches for the month is seen, there was a return of growth in sales of commercial vehicles with both Tata Motors and Ashok Leyland posting strong growth. According to analysts, the MHCV segment has been improving on strong tipper and intermediate commercial vehicle demand and a gradual recovery in replacement demand as well. Wholesale trend in two-wheelers is somewhat mixed with TVS Motors registering a good growth, Hero MotoCorp, marginal growth, and Bajaj Auto registering a decline in the domestic market.
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