Passenger vehicle retail sales are back in green with 9.81 per cent growth in the month of September 2020. Total PV sales increased to 1,95,665 units from 1,78,189 units, in September 2019. Other than PVs, tractors remain the only segment to show growth in sales while all the other segments continue to be in red. Overall retail sales report a 10.24 per cent drop to 13,44,866 units in September 2020 as compared to 14,98,283 units, a year ago.
With no more lockdowns as announced by the Central Government, dealers anticipate a high growth period during the festival months of October and November for automobile sales in India.
Two-wheeler sales dropped by 12.62 per cent to 10,16,977 units from 11,63,918 units, while three-wheeler segment reported 58.86 per cent drop to 24,060 units as compared to 58,485 units and commercial vehicle sales dropped by 33.65 per cent to 39,600 units from 59,683 units. Tractor sales rose by 80.39 per cent to 68,564 units from 38,008 units, a year ago, according to Federation of Automobile Dealers Associations (FADA) numbers.
FADA President, Vinkesh Gulati said that with the government’s persistent effort to unlock India, the month of September continued to witness automobile registrations on a rise as compared to previous months.
"Passenger Vehicles for the first time saw positive growth coming back on YoY basis. With social distancing on customer’s mind coupled with government’s push to further normalise business conditions and banks becoming more considerate to finance vehicles, entry level passenger vehicles saw good demand thus indicating a preference for personal transportation over public. New launches & vehicle availability played their part as catalyst. A lower base during last financial year also helped the cause," said Gulati.
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