FADA reports decline in CV registrations for the bulk of manufacturers in February 2021
While February registrations for CVs is more than what what was reported in January 2021, on a YoY basis, total retails have reported massive decline. The market having shrunk by almost 30 percent. CV retails/registration in Feb 21 fell to 59k units having fallen from 83,751 units at volume loss of 24,731 units. Decline is reported at 29.53 percent. MoM growth stood at 5.70 percent, up from 55,835 units.
Of this, Tata CVs dominated the charts at about 42 percent market share (MS). Despite a secured top seat, sales decline was almost a third. Sales fell to below 25k units from above 36k units at gigantic volume loss of 11.7k units. MoM growth is reported at 12.95 percent, up from just under 22k units at volume gain of a little over 2.8k units.
Large sales contractions
Mahindra CV sales decline was at a whopping 43.42 percent. The manufacturer claimed just over 20 percent MS last month. Registrations fell to below 12k units from over 21k units at volume loss of 9,205 units. MoM decline is reported at 12.29 percent. Volumes fell by almost 1.7k units, down from 13,673 units.
Ashok Leyland reports YoY contraction at 26.15 percent. Sales fell to about 8.8k units from about 12k units at volume loss of 3,129 units. MS fell to under 15 percent. MoM growth is reported at 6.06 percent, up from 8,333 units at volume gain of 505 units. VECV reported decline at over 16 percent. Registrations fell to 3,694 units, down from 4,422 units at volume loss of 728 units. MoM gain is reported at 15.73 percent. Retails rose from 3,192 units at volume gain of 502 units.
CV market decline
Maruti, largely a dominating force in the PV market offers a limited lineup when it comes to CVS. For now that journey is being spearheaded by the Super Carry LCV. While overall CV registrations dipped last month, Maruti found itself in a favourable position. Registrations grew to 3,219 units, up from 2,347 units at volume gain of 872 units. Growth is reported at 37.15 percent, and MS at 5.45 percent. MoM growth stood at 7.26 percent up from 3k units at volume gain of 218 units.
Daimler retails fell to 1,157 units, down from 1,582 units at 26.86 percent decline. Volume loss stood at 425 units and MS was at under 2 percent. MoM growth is reported at 2.66 percent, up from 1,127 units at volume gain of 30 units. Force Motors reported decline at almost 40 percent, and MS was contained at just over a percent. Retails fell to 654 units, down from almost 1.1k units. MoM growth stood at 92.92 percent, up from 339 units. Volume gain stood at 315 units.
Isuzu retails dropped to 465 units, down from 837 units at volume loss of 372 units. Decline is reported at 44.44 percent. MoM growth was reported at 13.69 percent, up from 409 units. Others accounted for 4,291 units at 10 percent growth, up from 3,899 units. MoM growth was similar at 10.48 percent, up from 3,884 units.
Disclaimer: The above numbers do not have figures from AP, MP, LD & TS as they are not yet on Vahan 4. Vehicle Registration Data has been collated as on 07.03.21 in collaboration with Ministry of Road Transport & Highways, Government of India and has been gathered from 1,274 out of 1,481 RTOs.