vehicle retail sales data: FADA Releases May21 Vehicle Retail Data
- FADA has also appealed to Prime Minister Narendra Modi to allow 90 days moratorium for auto dealers without any turnover limit instead of loan restructuring.
- The auto retail fraternity is in dire need of support at this time.
- Some auto companies such as Tata Motors, Renault, BharatBenz and Honda Motorcycle & Scooter India have announced financial support for channel partners.
Vehicle Retail Sales Data: In May 2021, retail sales of vehicles fell by 54.79 percent on a month-on-month basis. At the same time, there was a decline of 70.69 percent in vehicle sales as compared to May 2019. This information has been got from the Monthly Vehicle Retail Data released by Federation of Automobile Dealers Association (FADA). According to FADA, since there was a complete lockdown in the country in May 2020, the retail sales of vehicles cannot be compared on an annual basis. Therefore, the retail sales figures of vehicles in May 2021 have been compared with the sales figures of April 2021 and May 2019.
According to FADA, the retail sales of vehicles in May 2021 were 535855 units as against 1822566 units in May 2019 and 1185374 units in April 2021. On month-on-month basis, two-wheeler sales fell 53 per cent, three-wheeler sales 76 per cent, passenger vehicle sales 59 per cent, tractor sales 57 per cent and commercial vehicle sales down 66 per cent in May. In May, the total retail sales of two wheelers were 410757, sales of three wheelers 5215, sales of passenger vehicles 85733, sales of tractors 16616, sales of commercial vehicles were 17534 units.
good start of june
According to FADA, the beginning of the first 9 days of June has been better than expected. If this trend continues, the retail sales of vehicles in the month of June may remain almost equal to the sales of June 2020. FADA says that demand recovery is slow as rural markets are still grappling with the post COVID effects. Monsoon has arrived in India on time. If the forecast of the Meteorological Department is to be believed, normal rains may support the rural economy and demand for vehicles may increase faster than expected.
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Dealers need help
FADA also said that the auto retail fraternity is in dire need of support at this time. Some auto companies such as Tata Motors, Renault, BharatBenz and Honda Motorcycle & Scooter India have announced financial support for channel partners. The rest of the companies are yet to do the same. Therefore, FADA appeals to them also to make such an announcement at the earliest. FADA has also appealed to Prime Minister Narendra Modi to allow 90 days moratorium for auto dealers without any turnover limit instead of loan restructuring.
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