Highlights of the release are as following :
- February registrations continue to fall by -13.43% YoY.
- While Tractors continued its positive momentum by growing 18.89% YoY, Passenger Vehicles also showed double digit growth at 10.59% YoY. This growth was majorly due to low base of last year as India had started transitioning from BS-4 to BS-6 emission norms.
- On a YoY basis, 2W, 3W and CV continued their fall by -16.08%, -49.65% and -29.53% respectively.
- Passenger vehicle waiting period continued to remain as high as 8 months as scarcity of semiconductors continued to linger around.
- Dealer inventory for PV and 2W remained in range of 10-15 and 30-35 days.
- Auto Retail Industry continues to await the fine prints of Voluntary Scrappage Policy.
- The industry also urges Union Government to intervene and solve the semiconductor issue which is hampering Automobile manufacturing & sales, thus threatening post pandemic economic recovery.