Vehicle registrations in Kerala declined 47% to touch 41,330 units in July 2020 compared to 78,564 units of the comparable period of the previous year, shows the data from the Federation of Automobile Dealers Associations (FADA), a national body. Current market conditions are still not indicative of the actual demand situation on an all India level and retail continue to de-grow in huge double-digit despite the low base of last year. Know more about the benefits of going paperless in fleet management
The number of two-wheeler registrations came down by 44% to touch 30,788 vehicles during July 2020, down from 55,218 vehicles of a similar period of the previous year.
At the same time, the number of three-wheelers came down by 69% to 815 vehicles, compared to 2,614 vehicles of July 2019.
The commercial vehicle segment suffered a decline of 68% to touch 906 vehicles down from 2,791 vehicles of July 2019.
The passenger vehicle segment saw a 51% decline with the total number of registrations coming down to 8,785 units during July 2020, compared to 17,901 vehicles of July 2019.
The tractor segment, with negligible overall figures, suffered a decline of 10% -- 36 vehicles in July 2020 compared to 40 vehicles in July 2019.
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Listen to what FADA President Ashish Harsharaj Kale said:
The overall vehicle registrations in the country fell by 36% on a year-on-year basis. Commenting on how July 2020 performed, As India continues to open up, the month of July saw better registrations compared to June, though on a year-on-year basis auto sector recovery is yet to be seen anywhere near normal.
“Rural market though continues to show strong growth as monsoon continues its good spell. Tractor, small commercial vehicles, and motorcycle sales positively impacted with the monsoon progress and spread. Banks and NBFCs though flush with high liquidity are still having a cautious approach towards funding auto retail affecting the demand revival especially in segments of commercial vehicles, three-wheelers, and two-wheelers. Vehicle funding percentage has fallen by 10-15% in many segments increasing the initial contribution beyond the reach of many customers, despite having the intent to buy.” Kale said. Read more about the 5 effective ways of saving fuel
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