The Business Bytes
TBB BUREAU
NEW DELHI, AUG 9, 2021
Low base along with rising demand pushed India’s overall vehicle retail sales on both sequential and year-on-year basis in July 2021.
Accordingly, the data released by the Federation of Automobile Dealers Associations (FADA) showed a rise of 34.12 per cent during the month under review from the level of July 2020.
The vehicle retail sales rose to 15,56,777 units last month from 11,60,721 units sold during July 2020.
On sequential basis, FADA had reported an overall vehicle retail sales figure of 12,17,151 units for June 2021.
However, last month’s overall retail sales figure when compared to July 2019 (per-pandemic) period showed decline of (-) 13.22 per cent.
In July 2019, the overall vehicle retail sales stood at 17,93,882 units.
Commenting on July 2021 performance, FADA President, Vinkesh Gulati said, “With 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, commercial vehicles continue to see increase in demand especially in M&HCV segment with the Government rolling out infrastructure projects in many parts of the country. Passenger vehicles witness high demand specially with buzz around new launches and compact SUV segments.”
However, the 2-Wheeler 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, said Gulati.
The month of August begins on a positive note as demand and enquiry levels continue to improve across all categories.
