Vehicle registrations decline 43% in June; tractor sees growth of 10%: Report
The number of vehicle registrations declined 43 per cent to 9.67 lakh in June compared to the year-ago month amid the coronavirus pandemic even as the count of tractor registrations rose last month, according to a report.
The three-wheeler segment witnessed the biggest drop last month falling around 76 per cent to 11,806 registrations, ICICI Securities said in the report on Friday.
However, the only bright spot amid this was the tractor segment that logged about 10 per cent growth in registration to 44,042 units during June 2020 as against 39,962 units during the corresponding month of the previous year, it said.
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A total of 16,93,569 vehicles were registered at regional transport offices (RTOs) across the country in June 2019, said the report.
Monthly retail data, based on the retail registration figures available from the VAHAN portal of the Ministry of Road Transport and Highways (MoRTH), covers 1,076 of 1,421 (around 75 per cent) regional transport offices as the RTOs in containment zones were not operational as per lockdown guidelines, it said.
After the unlocking, the underlying operational RTOs have been increasing at a quick pace from 930 in May to 1,076 in July, the report said adding that the data has been normalised for the corresponding RTOs to get a like-to-like picture of the retail trends.
As per sales data released by auto industry body Society of Indian Automobile Manufacturers (SIAM) earlier this week, domestic sales in the June 2020 quarter plunged 75.49 per cent to 14,91,216 units as compared to 60,84,478 vehicles sold in the first quarter of 2019-20, with three-wheeler sales volume declining a massive 91.48 per cent during the period.
Domestic sales volume of passenger vehicles (PVs) dropped 49.6 per cent to 1,05,617 units in June 2020 as compared to 2,09,522 units sold a year ago, while the total two-wheeler sales declined 38 per cent to 10,13,431 units in June 2020 as compared with 16,49,475 units in June 2019. The three-wheeler sales for June plunged 80 per cent to 10,300 units, compared with 51,885 units during the month.
PV registrations were down by around 30 per cent y-o-y to 1,58,619 in June as against 2,25,992 a year ago, while two-wheeler registrations fell 42 per cent in the previous month to 7,72,702 against 13,31 969 in June 2019, ICICI Securities said in the report.
Gujarat witnessed the highest drop in PV registrations at 81.7 per cent, followed by Maharashtra at 78 per cent.
However, in two-wheeler registrations, the decline was the most in Maharashtra at 85.1 per cent, followed by Gujarat that saw 83 per cent drop during the month, the report added.
According to the report, states that are performing relatively better are the rural-oriented ones such as Bihar, Uttar Pradesh, and Rajasthan.