The Federation of Automobile Dealers Associations (FADA) has released the vehicle registration data for the month of December 2019. The indu...
The Federation of Automobile Dealers Associations (FADA) has released the vehicle registration data for the month of December 2019. The industry sold 16,06,002 units, against the 18,80,995 sold during the same month in 2018, registering a 15 per cent de-growth. Commenting on how December'19 performed, FADA President, Ashish Harsharaj Kale said, "December sales De-growth was not on expected lines as the inquiry levels all through the month were quite robust. Consumer Sentiment Continues to be very weak as Customers did not conclude on the Purchase even after taking the efforts of Inquiring and despite the Best Offers being available."
The auto industry retailed 2,15,716 passenger vehicles, reporting a decline of 9 per cent, as against the 2,36,586 unit sold in December 2018. On the other hand, two-wheeler sales saw a higher de-growth of 16 per cent with 12,64,169 units, as compared to 15,00,545 units sold in December 2018. In comparison, in the commercial vehicle sales fell by a massive 21 per cent at 67,793 units, as compared to 85,833 units sold during the same month in 2018. The three-wheeler segment, however, saw a marginal 1 per cent growth at 58,324 units, as against 58,031 vehicles sold in December 2018.
FADA says that it will work towards seeking relief from the Supreme Court for the BS-4 inventory of its members as with such weak consumer demand the near term retail sales are unpredictable, making it extremely difficult for our members to Continue the Current Business and also ensure a Nil BS-4 Inventory on 31st of March.
Talking about dealer inventory, Kale said, "On the Inventory Front, although there was a slight reduction across all segments, the CV and 2W inventory still remains a concern, especially looking at the Transition and the Current Weakness in Demand. PV for the first time is in the FADA recommended Range of 3 Weeks and a Shout out of appreciation to our PV OEM's for considering our Recommendation, which benefits the entire ecosystem."
FADA says that the average inventory for PVs ranges from 20 - 25 days, for two-wheelers it ranges from 30 - 35 days and for CVs it ranges from 30 - 35 days.
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