• After showing a one-time YoY growth in December, January registrations once again fell by -9.66%.
  • All categories except Tractor were in red. On a YoY basis, 2W, 3W, CV and PV fell by -8.78%, -51.31%, -25% and -4.46%. Tractor continued its upbeat momentum with a YoY growth of 11.14%.
  • Non-availability of vehicles due to scarcity of semiconductors, a fading pent-up demand and recent price hikes coupled with no festivities and auspicious days landed January registrations in negative zone.
  • While Dealer inventory for PV continued to fall and came down in range of 10-15 days, 2W inventory stayed put at 30-35 days.
  • Union Government’s announcement of scrappage policy (though voluntary) is in right direction. The spend on infrastructure projects like roads and public transport will help build traction for commercial vehicles over a longer period of time.

9th February’21, New Delhi: The Federation of Automobile Dealers Associations (FADA) today released the Monthly Vehicle Registration Data for January’21.

January’21 Registration

Commenting on how January’21 performed, FADA President, Mr. Vinkesh Gulati said, After witnessing a one off growth in December, January Auto Registrations fell once again by ~10% YoY. Auto Industry clearly misjudged the demand which returned post lockdown. Industry’s under estimation of post-covid rebound along with chipmakers prioritizing higher-volume and more lucrative consumer electronics market has created a vacuum for semiconductors. This has resulted in shortage in supply for all categories of vehicles especially Passenger Vehicles even though enquiry levels and bookings remained high. New launches and SUV’s continued to see high traction and helped in restricting the overall PV registrations fall by a bigger margin.

The recent price hike undertaken by Auto OEMs also added to woos as Two Wheeler have become more expensive for lower and middle income class. Commercial Vehicle registrations were also hit due to vehicle financing still not back to normal and high BS-6 cost.

Near Term Outlook

The first budget of this decade stressed on making India an Aatmanirbhar Bharat. Union Budget 2021 finally brought smile for Auto Industry as its age old demand of bringing Vehicle Scrappage Policy (voluntary) saw light of the day. The final contours of the policy though awaited, will decide its attractiveness and popularity. This including announcement to induct more buses in public transport, increased infrastructure spending and building National Highways will play a pivotal role in reviving Commercial Vehicles segment over a longer period of time.

Last year, the Auto Industry was transitioning from BS-4 to BS-6 during Q4 FY’21. This saw huge discounts leading to higher sales and registrations. With a high base and continued shortage of semiconductors on one hand and gradual opening of academic institutes and business as usual along with Covid Vaccine’s effectiveness on the other, FADA continues to remain guarded in its optimism for Auto Registrations during Q4 of this financial year.

Key Findings from our Online Members Survey

  • Sentiments
    • 46% dealers rated it as Good
    • 3% dealers rated it as Neutral
    • 8% dealers rated it as Bad
  • Liquidity
    • 6% dealers rated it as Good
    • 2% dealers rated it as Neutral
    • 2% dealers rated it as Bad
  • Expectation in February
    • 1% dealers rated it as Growth
    • 6% dealers rated it as Flat
    • 3% dealers rated it as De-growth
  • Inventory
    • Average inventory for Passenger Vehicles ranges from 10 – 15 days
    • Average inventory for Two-Wheeler ranges from 30 – 35 days

Chart showing Vehicle Registration Data for January’21 with YoY comparison can be found below:

All India Vehicle Registration Data for January’21

CATEGORYJAN’21JAN’20YoY %
2W11,63,32212,75,308-8.78%
3W 31,059 63,785-51.31%
PV 2,81,666 2,94,817-4.46%
TRACTOR 60,754 54,66211.14%
CV 55,835 74,439-24.99%
LCV 34,464 48,014-28.22%
MCV 3,466 4,038-14.17%
HCV 14,279 19,412-26.44%
Others 3,626 2,97521.88%
Total15,92,636 17,63,011 -9.66%

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 07.02.21 and in collaboration with Ministry of Road Transport & Highways, Government of India and has been gathered from 1,273 out of 1,480 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

Category-wise market share can be found in Annexure 1, Page No. 04 

OEM wise Market Share Data for the Month of January’21 with YoY comparison

Two-Wheeler (2W)
Two-Wheeler OEMJAN’21Market Share (%), JAN’21JAN’20Market Share (%), JAN’20
HERO MOTOCORP LTD 3,96,07434.05% 4,69,80436.84%
HONDA MOTORCYCLE AND SCOOTER INDIA (P) LTD 3,02,32925.99% 3,10,92224.38%
TVS MOTOR COMPANY LTD 1,76,30715.16% 1,83,37214.38%
BAJAJ AUTO LTD 1,30,73511.24% 1,53,19512.01%
ROYAL-ENFIELD (UNIT OF EICHER LTD) 54,4614.68% 53,0384.16%
SUZUKI MOTORCYCLE INDIA PVT LTD 46,6114.01% 50,1863.94%
INDIA YAMAHA MOTOR PVT LTD 44,5113.83% 41,1373.23%
PIAGGIO VEHICLES PVT LTD 4,5110.39% 5,3290.42%
CLASSIC LEGENDS PVT LTD 2,2850.20% 3,9110.31%
BMW INDIA PVT LTD 3510.03% 3030.02%
ADISHWAR AUTO RIDE INDIA PVT LTD 1560.01% 3720.03%
INDIA KAWASAKI MOTORS PVT LTD 1200.01% 2640.02%
TRIUMPH MOTORCYCLES (INDIA) PVT LTD 630.01% 1010.01%
H-D MOTOR COMPANY INDIA PVT LTD 270.00% 2580.02%
DUCATI INDIA PVT LTD 100.00% 350.00%
DUCATI MOTOR HOLDING S.P.A –0.00% 20.00%
Others including EV 4,7710.41% 3,0790.24%
Total11,63,322 100.00%12,75,308 100.00%

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 07.02.21 and in collaboration with Ministry of Road Transport & Highways, Government of India and has been gathered from 1,273 out of 1,480 RTOs. 
Three-Wheeler (3W)
Three-Wheeler OEMJAN’21Market Share (%), JAN’21JAN’20Market Share (%), JAN’20
BAJAJ AUTO LTD 11,48636.98% 28,30444.37%
PIAGGIO VEHICLES PVT LTD 5,36617.28% 11,89918.65%
MAHINDRA & MAHINDRA LIMITED 1,4014.51% 4,2906.73%
ATUL AUTO LTD 1,3224.26% 3,4765.45%
TVS MOTOR COMPANY LTD 7982.57% 1,0621.66%
Others including EV 10,68634.41% 14,75423.13%
Total 31,059 100.00% 63,785 100.00%

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 07.02.21 and in collaboration with Ministry of Road Transport & Highways, Government of India and has been gathered from 1,273 out of 1,480 RTOs.
Commercial Vehicle (CV)
Commercial Vehicle OEMJAN’21Market Share (%), JAN’21JAN’20Market Share (%), JAN’20
TATA MOTORS LTD 21,87739.18% 31,02841.68%
MAHINDRA & MAHINDRA LIMITED 13,67324.49% 19,84026.65%
ASHOK LEYLAND LTD 8,33314.92% 10,36413.92%
VE COMMERCIAL VEHICLES LTD 3,1925.72% 3,8475.17%
MARUTI SUZUKI INDIA LTD 3,0015.37% 2,9243.93%
DAIMLER INDIA COMMERCIAL VEHICLES PVT. LTD 1,1272.02% 1,3851.86%
SML ISUZU LTD 4090.73% 5370.72%
FORCE MOTORS LIMITED, A FIRODIA ENTERPRISE 3390.61% 1,0881.46%
Others 3,8846.96% 3,4264.60%
Total 55,835 100.00% 74,439 100.00%

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 07.02.21 and in collaboration with Ministry of Road Transport & Highways, Government of India and has been gathered from 1,273 out of 1,480 RTOs.
Passenger Vehicle (PV)
Passenger Vehicle OEMJAN’21Market Share (%), JAN’21JAN’20Market Share (%), JAN’20
MARUTI SUZUKI INDIA LTD 1,38,69049.24% 1,51,58551.42%
HYUNDAI MOTOR INDIA LTD 48,25017.13% 46,20415.67%
TATA MOTORS LTD 23,2678.26% 16,6115.63%
MAHINDRA & MAHINDRA LIMITED 15,0315.34% 19,2576.53%
KIA MOTORS INDIA PVT LTD 14,4705.14% 9,9633.38%
RENAULT INDIA PVT LTD 9,7753.47% 11,0603.75%
HONDA CARS INDIA LTD 8,7033.09% 9,4573.21%
TOYOTA KIRLOSKAR MOTOR PVT LTD 8,3722.97% 9,4563.21%
MG MOTOR INDIA PVT LTD 3,3661.20% 2,7580.94%
FORD INDIA PVT LTD 3,3501.19% 5,1351.74%
SKODA AUTO VOLKSWAGEN INDIA PVT LTD 2,6700.95% 160.01%
NISSAN MOTOR INDIA PVT LTD 1,8080.64% 2,1570.73%
MERCEDES-BENZ INDIA PVT LTD 8300.29% 1,2010.41%
BMW INDIA PVT LTD 7030.25% 1,3450.46%
FIAT INDIA AUTOMOBILES PVT LTD 4390.16% 8830.30%
JAGUAR LAND ROVER INDIA LIMITED 2110.07% 4090.14%
VOLKSWAGEN AG/INDIA PVT. LTD. 2090.07% 3,0111.02%
FORCE MOTORS LIMITED, A FIRODIA ENTERPRISE 1710.06% 8150.28%
VOLVO AUTO INDIA PVT LTD 1090.04% 1940.07%
PORSCHE AG GERMANY 460.02% 480.02%
AUDI AG 450.02% 4210.14%
SKODA AUTO INDIA/AS PVT LTD 350.01% 1,6600.56%
MERCEDES -BENZ AG 290.01% 10.00%
ROLLS ROYCE 70.00% 20.00%
FERRARI INDIA PRIVATE LIMITED 30.00% 50.00%
BENTLEY MOTORS LIMITED 10.00% –0.00%
AUTOMOBILI LAMBORGHINI S.P.A 10.00% 30.00%
Others 1,0750.38% 1,1600.39%
Total 2,81,666 100.00% 2,94,817 100.00%

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 07.02.21 and in collaboration with Ministry of Road Transport & Highways, Government of India and has been gathered from 1,273 out of 1,480 RTOs.
Tractor (TRAC)
Tractor OEMJAN’21Market Share (%), JAN’21JAN’20Market Share (%), JAN’20
MAHINDRA & MAHINDRA LIMITED (TRACTOR) 13,47622.18% 12,92823.65%
MAHINDRA & MAHINDRA LIMITED (SWARAJ DIVISION) 10,21116.81% 9,12316.69%
INTERNATIONAL TRACTORS LIMITED 8,64714.23% 6,56312.01%
ESCORTS LIMITED (AGRI MACHINERY GROUP) 6,94111.42% 6,20811.36%
TAFE LIMITED 6,23010.25% 6,24911.43%
JOHN DEERE INDIA PVT LTD(TRACTOR DEVISION) 4,7217.77% 4,2467.77%
EICHER TRACTORS 3,8316.31% 3,8877.11%
CNH INDUSTRIAL (INDIA) PVT LTD 2,4574.04% 2,0053.67%
KUBOTA AGRICULTURAL MACHINERY INDIA PVT.LTD. 1,0331.70% 8141.49%
V.S.T. TILLERS TRACTORS LIMITED 5170.85% 4720.86%
FORCE MOTORS LIMITED, A FIRODIA ENTERPRISE 2950.49% 2800.51%
CAPTAIN TRACTORS PVT. LTD. 1840.30% 1950.36%
INDO FARM EQUIPMENT LIMITED 1540.25% 1680.31%
Others 2,0573.39% 1,5242.79%
Total 60,754 100.00% 54,662 100.00%

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 07.02.21 and in collaboration with Ministry of Road Transport & Highways, Government of India and has been gathered from 1,273 out of 1,480 RTOs.

NC

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