Total vehicle registrations declined 11% during the 44-day festive season that ended with Diwali, according to retail sales data released for the first time by a dealers’ association. The Federation of Automobile Dealers Association cited the liquidity crunch faced by vehicle financiers as the main reason for slower sales.
Registrations of two-wheelers fell 13% and four-wheelers by 14% in the 42-day period, Fada said.
Industry lobby group Society of Indian Automobile Manufacturers provides wholesale data, or monthly despatches to the dealers, on a monthly basis. The data released by Siam for October shows a 1.5% increase Retail sales data shows vehicle sales declined 11% in the 42-day festive period till Diwali.
A study conducted by Fada shows total vehicle registrations grew by 6% from a year earlier in the April to 20 November period, while two-wheelers and commercial vehicle sales grew by 5% and 30%, respectively. However, passenger vehicles, considered a big ticket purchase after real estate, declined by more than 1.4%, according to Fada, compared with a 6.1% growth shown by Siam data from April to October.
The data compiled by Fada is accurate since it has been sourced from the Vahan website, where vehicle registration data is made available by the Union government, according to Vinkesh Gulati, vice-president, Fada. Representatives of Fada reached out to dealers who are still not part of Vahan to take stock of the situation.
Registrations of two-wheelers fell 13% and four-wheelers by 14% in the 42-day period, Fada said.
Industry lobby group Society of Indian Automobile Manufacturers provides wholesale data, or monthly despatches to the dealers, on a monthly basis. The data released by Siam for October shows a 1.5% increase Retail sales data shows vehicle sales declined 11% in the 42-day festive period till Diwali.
A study conducted by Fada shows total vehicle registrations grew by 6% from a year earlier in the April to 20 November period, while two-wheelers and commercial vehicle sales grew by 5% and 30%, respectively. However, passenger vehicles, considered a big ticket purchase after real estate, declined by more than 1.4%, according to Fada, compared with a 6.1% growth shown by Siam data from April to October.
The data compiled by Fada is accurate since it has been sourced from the Vahan website, where vehicle registration data is made available by the Union government, according to Vinkesh Gulati, vice-president, Fada. Representatives of Fada reached out to dealers who are still not part of Vahan to take stock of the situation.
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