• December registrations for the first time in FY20-21 witnesses’ positive growth of 11% (YoY) largely due to festival spill over demand and pre-buying due to announcement of price hike in January’21.
  • 2W, PV and Tractor categories grow by 11.8%, 24% and 35.5% (YoY) while CV and 3W continues to degrow by -13.5% and -52.7% (YoY).
  • To bring further clarity in CV registrations, FADA for the first time is releasing a split in CV category by introducing LCV, MCV and HCV wise registrations.
  • Dealer Inventory continues to fall with PV inventory ranging from 15-20 days and 2W inventory at 30-35 days.
  • PV dealers continue to face supply side issues for the 2nd straight month leading to higher waiting period as high as 8 months.
  • FADA looks forward to demand spurring initiatives in the upcoming Union Budget and specific initiatives for Auto Industry to continue Auto Sales in higher gear.

11th January’21, New Delhi: The Federation of Automobile Dealers Associations (FADA) today released the Monthly Vehicle Registration Data for the month of December’20.

December’20 Registration

Commenting on how December’20 performed, FADA President, Mr. Vinkesh Gulati said, Automobile registrations for the first time witnessed YoY growth in this Financial Year by growing 11% in the month of December. A good crop season, better offers in 2W segment, new launches both in PV as well as 2W and a fear of price increase in the month of January kept the demand going. Supply side issues in passenger vehicles continued for the 2nd straight month thus making waiting period as high as 8 months in select OEM vehicles.

The CV segment continues to see demand pressure even though on YoY basis the segment fell by 13.5% due to lower base. Increased intra-city goods movement continued to help SCV’s outperform M&HCV segment as Axle load norms, increased fuel & vehicle cost and higher freight rates continued to play spoilsport.

Tractor continues to outshine supply for 6 straight months further confirming the fact that Bharat carries on to lead India’s economic recovery.

The Commercial Vehicle Segment

With an aim to continuously bring transparency in Auto Retails, FADA for the first time is releasing a further split in vehicle registration data by introducing Small, Medium and Heavy Commercial Vehicle registration details under the Commercial Vehicle category.

This will not only help in understanding Commercial Vehicle data better but will also help all the stakeholders viz., Suppliers, OEMs, Banks/NBFC and Dealers get real time demand status thus helping them in better planning.

Near Term Outlook

While December saw good spill over demand continuing from festive season and pre-buying due to price hike announcement, demand for vehicles in January looks to be bleak. PV may witness growth if demand supply mismatch is resolved. With recent hikes announced by all OEMs, FADA expects a temporary blip in demand  as customers will take time to absorb the same.

India’s new vaccination program is now in place. This will help Indians in increasing their mobility, restoring life back to normalcy and business as usual. With gradual opening up of educational institutes/colleges, organic demand for 2-wheelers should slowly start coming back.

The government’s approval for Rs. 12,000 crore infrastructure projects will see its positive effects in the CV space, though full recovery is only expected in all the segments of the industry from April’21 onwards.

With no further price hike shocks, demand spurring budget by the Central Government, Covid vaccine’s effectiveness to fight the current and the new strain of virus with no/minimal side effects, FADA remains guarded in its optimism for Auto Sales during last quarter of this fiscal year.

Key Findings from our Online Members Survey

  • Sentiments
    • 44% dealers rated it as Good
    • 3% dealers rated it as Neutral
    • 16% dealers rated it as Bad
  • Liquidity
    • 9% dealers rated it as Good
    • 1% dealers rated it as Neutral
    • 16% dealers rated it as Bad
  • Expectation in January
    • 5% dealers rated it as Growth
    • 4% dealers rated it as Flat
    • 1% dealers rated it as De-growth
  • Inventory
    • Average inventory for Passenger Vehicles ranges from 15 – 20 days
    • Average inventory for Two-Wheeler ranges from 30 – 35 days

Chart showing Vehicle Registration Data for December’20 with YoY comparison can be found below:

All India Vehicle Registration Data for December’20

CATEGORYDEC’20DEC’19YoY %
2W 14,24,620 12,73,31811.88%
3W 27,715 58,651-52.75%
PV 2,71,249 2,18,77523.99%
TRACTOR 69,105 51,00435.49%
CV 51,454 59,497-13.52%
LCV 33,986  38,280 -11.22%
MCV 2,528  3,018 -16.24%
HCV 11,212  15,361 -27.01%
Others 3,728  2,838 31.36%
Total 18,44,143  16,61,245 11.01%

Source: FADA Research

Disclaimer:

  • The above numbers do not have figures from AP, MP, LD & TS as they are not yet on Vahan 4.
  • Vehicle Registration Data has been collated as on 09.01.21 and in collaboration with Ministry of Road Transport & Highways, Government of India and has been gathered from 1,270 out of 1,477 RTOs.
  • CV is subdivided in the following manner
    1. LCV – Light Commercial Vehicle (incl. Passenger & Goods Vehicle)
    2. MCV – Medium Commercial Vehicle (incl. Passenger & Goods Vehicle)
    3. HCV – Heavy Commercial Vehicle (incl. Passenger & Goods Vehicle)
    4. Others – Construction Equipment Vehicles and others

OEM wise Market Share Data for the Month of December’20 with YoY comparison

Two-Wheeler (2W)
Two-Wheeler OEMDEC’20Market Share (%), DEC’20DEC’19Market Share (%), DEC’19
HERO MOTOCORP LTD 5,59,11839.25% 4,93,26638.74%
HONDA MOTORCYCLE AND SCOOTER INDIA (P) LTD 3,49,68624.55% 3,11,52924.47%
TVS MOTOR COMPANY LTD 2,04,48214.35% 1,79,17614.07%
BAJAJ AUTO LTD 1,60,91211.30% 1,52,37411.97%
ROYAL-ENFIELD (UNIT OF EICHER LTD) 51,0033.58% 48,0573.77%
SUZUKI MOTORCYCLE INDIA PVT LTD 44,7583.14% 43,2013.39%
INDIA YAMAHA MOTOR PVT LTD 42,8813.01% 34,7972.73%
PIAGGIO VEHICLES PVT LTD 3,7820.27% 4,5880.36%
CLASSIC LEGENDS PVT LTD 2,7640.19% 3,0610.24%
BMW INDIA PVT LTD 3960.03% 2260.02%
ADISHWAR AUTO RIDE INDIA PVT LTD 1480.01% 1420.01%
INDIA KAWASAKI MOTORS PVT LTD 1100.01% 1920.02%
TRIUMPH MOTORCYCLES (INDIA) PVT LTD 740.01% 610.00%
H-D MOTOR COMPANY INDIA PVT LTD 450.00% 2010.02%
DUCATI INDIA PVT LTD 20.00% 250.00%
DUCATI MOTOR HOLDING S.P.A –0.00% 40.00%
Others including EV 4,4590.31% 2,4180.19%
Total 14,24,620 100.00% 12,73,318 100.00%

Source: FADA Research

Disclaimer:

  • The above numbers do not have figures from AP, MP, LD & TS as they are not yet on Vahan 4.
  • Vehicle Registration Data has been collated as on 09.01.21 and in collaboration with Ministry of Road Transport & Highways, Government of India and has been gathered from 1,270 out of 1,477 RTOs.
Three-Wheeler (3W)
Three-Wheeler OEMDEC’20Market Share (%), DEC’20DEC’19Market Share (%), DEC’19
BAJAJ AUTO LTD 9,57034.53% 24,34741.51%
PIAGGIO VEHICLES PVT LTD 5,03718.17% 10,26017.49%
MAHINDRA & MAHINDRA LIMITED 1,2124.37% 3,8936.64%
ATUL AUTO LTD 1,1874.28% 3,9556.74%
TVS MOTOR COMPANY LTD 7902.85% 1,0421.78%
Others including EV 9,91935.79% 15,15425.84%
Total 27,715 100.00% 58,651 100.00%

Source: FADA Research

Disclaimer:

  • The above numbers do not have figures from AP, MP, LD & TS as they are not yet on Vahan 4.
  • Vehicle Registration Data has been collated as on 09.01.21 and in collaboration with Ministry of Road Transport & Highways, Government of India and has been gathered from 1,270 out of 1,477 RTOs.
Commercial Vehicle (CV)
Commercial Vehicle OEMDEC’20Market Share (%), DEC’20DEC’19Market Share (%), DEC’19
TATA MOTORS LTD 19,17237.26% 25,21242.38%
MAHINDRA & MAHINDRA LIMITED 15,12829.40% 15,48026.02%
ASHOK LEYLAND LTD 6,58312.79% 8,07013.56%
VE COMMERCIAL VEHICLES LTD 2,6375.12% 2,6984.53%
MARUTI SUZUKI INDIA LTD 2,4304.72% 2,2343.75%
DAIMLER INDIA COMMERCIAL VEHICLES PVT. LTD 9221.79% 9871.66%
FORCE MOTORS LIMITED, A FIRODIA ENTERPRISE 3490.68% 9861.66%
SML ISUZU LTD 3440.67% 4870.82%
Others 3,8897.56% 3,3435.62%
Total 51,454 100.00% 59,497 100.00%

Source: FADA Research

Disclaimer:

  • The above numbers do not have figures from AP, MP, LD & TS as they are not yet on Vahan 4.
  • Vehicle Registration Data has been collated as on 09.01.21 and in collaboration with Ministry of Road Transport & Highways, Government of India and has been gathered from 1,270 out of 1,477 RTOs.
Passenger Vehicle (PV)
Passenger Vehicle OEMDEC’20Market Share (%), DEC’20DEC’19Market Share (%), DEC’19
MARUTI SUZUKI INDIA LTD 1,30,77248.21% 1,00,89346.12%
HYUNDAI MOTOR INDIA LTD 46,38217.10% 39,30617.97%
TATA MOTORS LTD 19,6697.25% 11,0325.04%
KIA MOTORS INDIA PVT LTD 17,9136.60% 10,3394.73%
MAHINDRA & MAHINDRA LIMITED 15,7735.81% 14,2916.53%
HONDA CARS INDIA LTD 9,4113.47% 8,2143.75%
RENAULT INDIA PVT LTD 9,0023.32% 8,3433.81%
TOYOTA KIRLOSKAR MOTOR PVT LTD 7,5722.79% 8,2003.75%
FORD INDIA PVT LTD 4,8211.78% 5,3072.43%
MG MOTOR INDIA PVT LTD 3,0571.13% 2,4191.11%
SKODA AUTO VOLKSWAGEN INDIA PVT LTD* 2,1400.79% 90.00%
MERCEDES-BENZ INDIA PVT LTD 7670.28% 1,0580.48%
NISSAN MOTOR INDIA PVT LTD 7220.27% 1,4920.68%
BMW INDIA PVT LTD 6040.22% 8850.40%
FIAT INDIA AUTOMOBILES PVT LTD 5870.22% 6580.30%
JAGUAR LAND ROVER INDIA LIMITED 1830.07% 3100.14%
VOLKSWAGEN AG/INDIA PVT. LTD.* 1810.07% 2,7051.24%
FORCE MOTORS LIMITED, A FIRODIA ENTERPRISE 1470.05% 5360.25%
VOLVO AUTO INDIA PVT LTD 1230.05% 1450.07%
SKODA AUTO INDIA/AS PVT LTD* 480.02% 1,2470.57%
AUDI AG* 410.02% 2860.13%
MERCEDES -BENZ AG 380.01% –0.00%
PORSCHE AG GERMANY 240.01% 320.01%
BENTLEY MOTORS LIMITED 30.00% 20.00%
ROLLS ROYCE 20.00% 30.00%
AUTOMOBILI LAMBORGHINI S.P.A 10.00% 20.00%
FERRARI INDIA PRIVATE LIMITED 10.00% –0.00%
Others 1,2650.47% 330.02%
Total 2,71,249 100.00% 2,18,775 100.00%

Source: FADA Research

Disclaimer:

  • The above numbers do not have figures from AP, MP, LD & TS as they are not yet on Vahan 4.
  • Vehicle Registration Data has been collated as on 09.01.21 and in collaboration with Ministry of Road Transport & Highways, Government of India and has been gathered from 1,270 out of 1,477 RTOs.
Tractor (TRAC)
Tractor OEMDEC’20Market Share (%), DEC’20DEC’19Market Share (%), DEC’19
MAHINDRA & MAHINDRA LIMITED (TRACTOR)     16,38523.71%     12,66024.82%
MAHINDRA & MAHINDRA LIMITED (SWARAJ DIVISION)     11,66816.88%       8,27416.22%
INTERNATIONAL TRACTORS LIMITED       9,38013.57%       5,74311.26%
TAFE LIMITED       8,02211.61%       5,72711.23%
ESCORTS LIMITED (AGRI MACHINERY GROUP)       7,16210.36%       6,07511.91%
JOHN DEERE INDIA PVT LTD(TRACTOR DEVISION)       5,2717.63%       3,4616.79%
EICHER TRACTORS       4,4106.38%       3,7077.27%
CNH INDUSTRIAL (INDIA) PVT LTD       2,5933.75%       1,8953.72%
KUBOTA AGRICULTURAL MACHINERY INDIA PVT.LTD.       1,0491.52%          7941.56%
V.S.T. TILLERS TRACTORS LIMITED          4460.65%          4630.91%
FORCE MOTORS LIMITED, A FIRODIA ENTERPRISE          2960.43%          2430.48%
CAPTAIN TRACTORS PVT. LTD.          2880.42%          2180.43%
INDO FARM EQUIPMENT LIMITED          1590.23%          1690.33%
Others       1,9762.86%       1,5753.09%
Total    69,105 100.00%    51,004 100.00%

Source: FADA Research

Disclaimer:

  • The above numbers do not have figures from AP, MP, LD & TS as they are not yet on Vahan 4.
  • Vehicle Registration Data has been collated as on 09.01.21 and in collaboration with Ministry of Road Transport & Highways, Government of India and has been gathered from 1,270 out of 1,477 RTOs.

NC

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