MoM data shows a growth of 5.11%.
According to the data released by the Federation of Automobile Dealers Associations (FADA), vehicle registrations declined by 24% in October 2020. Overall sales stood at 14,13,549 units, compared to 18,59,709 units in October 2019. However, the MoM data shows a growth of 5.11%.
Demand in the passenger vehicle segment was high due to new launches. But, the same cannot be said about the entry level motorcycle segment that witnessed a lean demand.
Small commercial vehicles are back in demand as local goods transportation is back to pre-Covid levels. However, the medium and heavy commercial vehicles segment continues to be in the red. On the other hand, the tractor segment continues to grow at 55% YoY.
2-wheeler sales declined by 26.82% to 10,41,682 units compared to the same month previous year.
3-wheeler sales were down by 64.50%. 22,381 units were sold compared to 63,042 units in October 2019.
Passenger vehicle sales declined by 8.80%. 2,49,860 units were sold compared to 2,73,980 units in October 2019.
Commercial vehicle sales dropped by 30.32%. 44,480 units were sold in October 2020 compared to 63,837 units in the same month previous year.
Tractor sales increased by 55.53% to 55,146 units.
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