Whole automobile retails in November decreased by 2.70% on a YoY foundation and as compared with November 2019, the general retails fell by nearly 20%. “The undesirable rains in southern states additional spoiled the celebration. Until Rural India begins displaying indicators of energy, general retails will proceed to stay weak,” FADA president Vinkesh Gulati stated.
2-wheelers, particularly, confirmed weak momentum regardless of the competition season. Whereas on a YoY stage the 2-wheeler retails remained nearly unchanged, as compared with November 2019 (pre-Covid), it fell greater than 20%. “Crop loss resulting from incessant rains and flood in southern states, excessive acquisition worth in addition to gas prices saved the purchasers away. Additional, there are not any indicators of a rise in inquiry ranges which is a much bigger reason for concern,” Gulati added.
The persistent semiconductor disaster has hindered the restoration of auto gross sales, knowledge reveals. Sellers have been unable to satisfy the demand regardless of large bookings with the provision points leading to lengthy ready durations. 3-wheelers, industrial autos (CVs) have been up 67% and 13% every on a year-on-year foundation whereas the 2-wheelers, passenger autos and tractors fell 1%, 19% and 9% respectively.
Industrial autos proceed to see traction within the M&HCV phase. A double-digit progress may very well be seen on a low base. “The bus phase remains to be witnessing a dry run as academic institutes proceed to stay closed. With diesel costs at document highs, provide of CNG autos should not in a position to meet the demand. Tight liquidity and unavailability of finance for purchasers who availed moratorium are additionally appearing as gross sales barrier,” Gulati stated. It could be famous that in comparison with pre-Covid occasions (November 2019), CV gross sales are down 21.28%.
On the finish of November 2021, common stock ranges for passenger autos ranged from 10-15 days whereas common stock ranges for two-wheelers ranged from 30-35 days.