FADA reports a decline in Commercial Vehicle registrations for almost every manufacturer in March 2021
Commercial vehicle registrations have declined by a significant margin in March 2021. As per figures released by (FADA) Federation of Automobile Dealers Association, total registration dipped 28.64 percent on a YoY basis and this include tractors, PVs, 2 and 3 wheelers and CVs.
Commercial Vehicle (CV) registrations have fallen YoY by over 42 percent in March 2021. Total CVs sold in March 2021 stood at 67,372 units, down 42.20 percent over 1,16,559 units retailed in March 2020. However, CV registrations were higher by 14.15 percent MoM as against 59,020 units sold in Feb 21.
The main reasons for YoY de-growth could be higher BS6 prices, lower finance availability, pressure on repayment and the bus segment suffering due to the lockdown announced in view of the COVID-19 pandemic. Even as MoM retails show some promise, the second wave of the pandemic along with shortage of supply of semi-conductors could once again throw a spanner in the works.
Tata Continues To Lead
Topping the charts was Tata Motors with a market share of 42.78 percent, up from 41.78 percent held in Feb 21. However, the company suffered a de-growth of 46.35 percent in terms of retail sales which stood at 28,821 units in March 21, down from 53,718 units retailed in March 20. MoM sales increased by 4,112 units or 1.64 percent as against 24,709 units sold in Feb 21.
The second largest CV maker, Mahindra noted a 54.27 percent in retail sales which dipped to 11,807 units in March 21, down from 25,818 units sold in March 20. MoM sales were also lower by 1.55 percent as against 11,993 units sold in Feb 21.
Ashok Leyland was at No. 3 on the list of leading CV makers in terms of retail sales for March 2021. However, de-growth stood at 36.03 percent with 10,486 units retailed, down from 16,392 units retailed in March 2020. MoM growth stood at 18.65 percent with 8,838 units retailed in Feb 21.
Registrations of VECV decline
VECV also reported a dip in CV registrations for March 2021 which dipped from 7,092 units in March 2020 to 4,201 units in the past month, a de-growth of 40.77 percent. MoM retails however increased by 507 units from 3,694 units sold in Feb 20.
Maruti Suzuki, makers of the Super Carry LCV, suffered a hefty de-growth of 75.54 percent in terms of CV registrations in March 21. FADA reported sales at 3,767 units, down 1,621 units as against sales of 2,146 units in March 20. However, MoM retails improved marginally by 17.02 percent compared to 3,219 units sold in Feb 21.
Daimler, Force Motors, Isuzu
Daimler retails fell 44.27 percent in the past month to 1,440 units, down from 2,584 units sold in March 20 while MoM retails increased 24.46 percent with 1,157 units retailed in Feb 21. Where retails of Force Motors were concerned, the company reported the highest percentage de-growth. YoY retails dipped 79.35 percent to 402 units, down from 1,947 units retailed in March 20. MoM retails also dipped from 654 units of Feb 21.
Isuzu also suffered a 62.91 percent YoY de-growth but MoM retails increased 25.38 percent form 465 units sold in Feb 21 to 583 units in March 21. All the other CV makers reported an increase of 10.89 percent in March 21 to 5,865 units, up from 5,289 units in March 20 while MoM retails increased 36.68 percent as compared to 4,291 units sold in Feb 21.