The vehicle retail data for September 2021 shows a year-on-year decline in sales. Vehicle sales data for September’21 saw a decline of 5.27% compared to September 2020. On a year-on-year basis, three-wheeler sales were up by 51%, passenger vehicles by 16%, and commercial vehicles were up by 47%. Two-wheeler sales and Tractors fell by 12% and 24% respectively.
Commenting on how September’21 performed, FADA President, Vinkesh Gulati said, “Auto retail in the month of September has taken a pause as overall sales were down by 5%. During the 1st half of this FY, while the overall retails were up by 35%, the same was down by 29% when compared to 2019, a pre-covid year. On a long term basis, except tractors which grew by 19% and PV which has almost reached pre-covid levels, all the other segments were in the red.”
“The two-wheeler category continues to play spoilsport as the entry-level segment is yet to witness healthy growth. This segment’s performance is now becoming critical for the overall two-wheeler to come back on the path of recovery as dealer inventory rises to 30-35 days in anticipation of a good festive. Semiconductor shortage has also started impacting the 150+ cc segment.”
“The three-wheeler segment is now showing clear signs of a tactical shift from ICE to EVs as the ratio has hit a 60:40 split. With offices and educational institutions slowly opening up, electrification of 3W’s will
gather greater momentum in months to come.”
“As we enter the core of this year’s festive season, the full-blown semiconductor crisis continues to create hindrance in PV sales as vehicle inventory at dealers end dip to record lows of 15-20 days during the current fiscal. With high demand in this segment, a long waiting period continues to frustrate and keep enthusiast buyers in a fix. The CV segment is finally showing greater strength as all sub-categories continue to grow YoY. MCV for the first time also grows above the pre-covid month of Sept’19.”
With India entering the 42 days festive period beginning today, the near term outlook for this year’s festive season will be a mixed bag. While Dealers have increased their inventory in the two-wheeler category, PV inventory is at the lowest during this FY due to the ongoing semi-conductor crises.
Also, FADA requests all two-wheeler OEMs to announce special schemes for demand revival in the entry-level 2W (below 125 cc) segment as the same continues to be a spoilsport.
Get live Stock Prices from BSE, NSE, US Market and latest NAV, portfolio of Mutual Funds, Check out latest IPO News, Best Performing IPOs, calculate your tax by Income Tax Calculator, know market’s Top Gainers, Top Losers & Best Equity Funds. Like us on Facebook and follow us on Twitter.