Federation of Automobile Dealers Associations data claims retail sales increased 34.12% year over year in July 2021
Vehicle retail data for July 21 was issued today by the Federation of Automobile Dealers Associations (FADA). According to the Federation of Automobile Dealers Association, vehicle sales exhibited a good trajectory in July.
According to FADA, total automobile retail sales increased 34.12% year over year in July 2021. When compared to July of last year (a typical pre-covid month), the gap has shrunk to the low double digits of -13.22 percent.
On a year-over-year basis, all categories were up, with two-wheelers up 28%, three-wheelers up 83%, PV up 63 percent, the went up by 7 percent, and CV up 166 percent. After tractors, passenger vehicles were the first to exhibit significant increases, with a 24 percent increase compared to July 2019 the pre-covid month.
The month of August is off to a good start, with demand and inquiry levels improving across the board. Sowing activities will progressively ramp up as the IMD forecasts a typical monsoon between August-September. This will have an impact on rural sales, particularly in the category.
FADA President, Vinkesh Gulati said, "With the entire country now open, July continues to see robust recovery in Auto Retails as demand across all categories remain high. The low base effect also continues to play its part. With all categories in green, CV's continue to see increase in demand specially in M&HCV segment with the Government rolling out infrastructure projects in many parts of the country."
"PV's witnesses high demand specially with buzz around new launches and compact SUV segments. The waiting period due to supply side constraints have been persisting since quite a few months and is now becoming a deep routed issue for OEM's. The 2W segment though continues to see positive demand YoY, the rate of recovery remains sluggish as customers at the bottom of the pyramid suffer with poor disposable income and rural markets where covid cases were high during the 2nd wave."
"Auto Retails have now started narrowing the deficit when compared to pre-covid months. When compared to July'19, the gap reduces to low double digits of -13 percent. With retails already above pre-covid levels during the last month, Passenger Vehicles for the first time have reached the same by growing 24 percent."
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