Automotive information ALARM! SHARP JUMP – Retail Car Gross sales Up 22%, PV Up 43% YoY; Restoration from Navratri, Diwali is more likely to be again on observe, says FADA
Automotive retail sales rose sharply in June 2021. Total automotive retail sales for June 2021 rose by 22 percent on a low basis in June compared to June 2020, according to data from the Association of Automobile Dealers (FADA). However, compared to the year before Covid-19 (June 19), retail vehicle sales data was still 28.32 percent.
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The two-wheeler retail trade increased by 17 percent, the three-wheeler retail trade by 22 percent, while passenger sales rose by 43 percent compared to the previous year. Commercial vehicle retail sales increased 236% on a very low basis over the same period as BS-6 vehicles were unavailable.
The Association of Automobile Dealers’ Associations was positive in terms of future retail sales figures. “It is said that the momentum continued from June to July. Since South India is opening up after the gradual opening of several states, we can expect a further revival in demand, ”said FADA
However, it remained cautious of new mutant viruses and the impending third wave of Covid-19. “New virus mutants and the upcoming 3rd wave continue to pose risks in the long term,” it said.
The association was also concerned about the shortage of semiconductors. This global shortage had a negative impact on the growth of passenger vehicles. “The persistent global shortage of semiconductors is affecting the discrepancy in demand and is limiting the growth of passenger cars.”
However, the FADA statement stated that it sees mixed demand and hopes the recovery of Navratri and Diwali. will be back on track