Federation of Automobile Dealers Associations discloses vehicle registration data for December 2019. The business sold 16,06,002 units, against the 18,80,995 sold during that month in 2018, enlisting a 15 percent de-growth.
The automobile business retailed 2,15,716 traveler vehicles, detailing a decrease of 9 percent, as against the 2,36,586 unit sold in December 2018. Then again, bike deals saw a higher de-growth of 16 percent with 12,64,169 units, when contrasted with 15,00,545 units sold in December 2018.
Ashish Harsharaj Kale, FADA President 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.”
In correlation, in the business vehicle deals fell by a huge 21 percent at 67,793 units, when contrasted with 85,833 units sold during that month in 2018. The three-wheeler segment, in any case, saw a minimal 1 percent growth at 58,324 units, as against 58,031 vehicles sold in December 2018.
FADA says that the normal stock for PVs ranges from 20 – 25 days, for bikes it ranges from 30 – 35 days and for CVs it ranges from 30 – 35 days.
“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,” Kale added.
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