Passenger car retail gross sales in February this 12 months dropped to 2,26,271 models as in comparison with 2,28,959 models in the identical month final 12 months.
- Last Updated: March 13, 2020, 1:28 PM IST
- Edited by: Chhavianshika Singh
Automobile sellers’ physique FADA on Thursday mentioned retail gross sales of passenger automobiles, measured by registration, declined 1.17 per cent to 2,26,271 models in February. Passenger car retail gross sales in February final 12 months stood at 2,28,959 models, the Federation of Automobile Dealers Associations (FADA) mentioned in a press release. Two-wheeler retail gross sales stood at 12,85,398 models final month as in opposition to 12,66,163 models in February 2019, a development of 1.52 per cent, it added. Commercial car retail gross sales additionally grew by 13 per cent to 92,805 models final month as in contrast with 82,129 models within the year-ago interval.
FADA mentioned three-wheeler gross sales had been up 20.7 per cent at 65,752 models as in contrast with 54,474 models in February 2019. Tractor retail gross sales stood at 41,485 models as in contrast with 36,543 models in February final 12 months, a development of 13.52 per cent. Retail gross sales of whole automobiles throughout classes stood at 17,11,711 models in February 2020 as in contrast with 16,68,268 models in the identical month a 12 months in the past, it mentioned.
Commenting on car retail gross sales, FADA President Ashish Harsharaj Kale mentioned February turned optimistic for many of the segments as your entire auto ecosystem, particularly auto sellers, centered on liquidation of their BS-IV Stocks. “Rural sales contributed for retail sales turning green with tractors also being in double-digit growth for the second month in a row,” he added. Despite the expansion, the general retail gross sales had been a lot beneath expectations because the anticipated pre-buying for the BS-IV inventory was not seen, he mentioned. “Many customers held onto their purchase decision expecting sweeter deals towards the end of March,” he added.
Commenting on stock ranges, Kale mentioned it stays a really critical concern for BS-IV two-wheelers and requested producers to handhold sellers for 100 per cent liquidation of shares earlier than March 31 deadline. “FADA survey reveals a very high number of two-wheeler dealers will not be able to fully liquidate their BS-IV inventory and expressed inadequate support from their OEMs (original equipment manufacturers) for 100 per cent liquidation of this stock,” Kale mentioned. With regards to passenger automobiles and industrial automobiles, he mentioned total stock is at an affordable stage, however the problem stays in slow-moving, non-popular fashions as sellers search for enough OEM help for liquidation of the identical in March.
“FADA has already advocated for the return of unsold BS-IV stocks and will be pursuing this for its members if the need arises, as many dealers will be unable to sustain such losses,” Kale mentioned. On the outlook for March, he mentioned with banks and NBFCs getting right into a cautious mode on the subject of financing BS-IV shares and plenty of RTOs (Regional Transport Offices) throughout the nation prescribing their very own closing dates for everlasting registration, liquidation of BS-IV stock continues to be a problem. “Dealers are now facing a new challenge with coronavirus cases being detected in India and alarming drop in customer walk-ins in auto showrooms,” he mentioned.
This post was last modified on March 14, 2020 9:59 am