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Vehicle Sales In India Saw A Decline Of 8% In March 2019: FADA

Vehicle Sales In India Saw A Decline Of 8% In March 2019: FADA 1

Despite March 2019 ending on a wonderful observe with the enterprise seeing an increase of 8 in keeping with cent, as compared to February 2019, YoY income went down with the aid of 8 according to the cent, with de-growth in all the categories. The Federation of Automobile Dealers Associations (FADA) launched the Monthly Vehicle Registration Data for March 2019. The Financial Year 2018-19, which ended as of March 31, 2019, noticed car sales drop by way of 8, consistent with general retail income accounting for sixteen eighty-two 656 gadgets compared to the 18,21,538 vehicles sold in March 2018. FAA says there was de-growth in all oategories as March 2018 changed into one of the largest months for rretail’sremaining monetary year. However, as for Month Month (MoM) sales, March 2019 ended otremendouslyfor FADA because the industry bagged a growth of eight in step with ccentscompared to February 2019.

Commenting on the yearly and monthly overall performance, FADA President Ashish Harsharaj Kale stated, “I am happy to share that the Indian Auto Sector has controlled to shut FY19 on a high-quality word on the retail front. All the segments echoed positivity in March compared to February income, with 2W leading the rate with a wholesome boom of 10 consistent with cent, which indicated a slight improvement in consumer sentiment and liquidity availability.” Compared to February 2019, two-wheeler income grew by 1tenaccording to ccentsin March 2019 but dropped by 7 in step with cent in YoY income.

In March 2019, the 2-wheeler phase witnessed a de-boom of seven in keeping with cent in India at 13,24,823 units compared to the 14,25,356 two-wheelers retailed throughout the same month remaining yr. However, in MoM sales, the segment grew using 10, consistent with cent, against the 12,07,258 -wheelers offered in February 2019. The passenger car phase, alternatively, saw a decline of 10 percent with two forty-two 708 units, in preference to the 2,s sixty-nine176 cars retailed in March 2018; however, as compared to the 2,31,512 units offered in February 2019, the segment grew by 5 in step with cent in MoM sales.

As for the commercial car phase, the CV area noticed the best YoY decline of 12 percent, with retail accounting for 61,896 gadgets in March 2019, compared to the 70,203 CVs offered throughout the same month in 2018. That stated according to the entire MoM boom against the 60,769 units delivered in February 2019, became a marginal 2two. The 3-wheeler phase, alternatively declined via six according to cent closing month, with 53,229 units, in opposition to the fifty-six,803 units bought in March 2018, even as MoM sales grew by 3 percent, compared to fifty-one,463 3-wheelers bought in February 2019.

Commenting on the bold step taken by way of numerous OEMs to lessen manufacturing to govern developing provider stock, FADA said, “Inventory discount with the aid of way of Production cut is a painful decision for all stakeholders, in particular, OEM’s and that too in a growing market like India and I am grateful to our Principals for information the ache and stress that Auto Dealers have been going via with Historically High Inventory and that too in such a Tight Liquidity Situation. FADA appreciates and applauds the bold steps taken through mthe ajority of OEMs for regulating production to contemporary demand and helping dealers ireducestock.”