Economy

Vehicle registrations decline 43 per cent to 9.67 lakh in June

PTI Mumbai | Updated on July 17, 2020

The closure of vehicle showrooms took a heavy toll on registrations amid huge discounting by OEMs.   -  REUTERS

Tractor growth of 10 per cent last month

The number of vehicle registrations declined 43 per cent to 9.67 lakh in June compared to the year-ago month amid the coronavirus pandemic even as the count of tractor registrations rose last month, according to a report.

The three-wheeler segment witnessed the biggest drop last month falling around 76 per cent to 11,806 registrations, ICICI Securities said in the report on Friday.

However, the only bright spot amid this was the tractor segment that logged about 10 per cent growth in registration to 44,042 units during June 2020 as against 39,962 units during the corresponding month of the previous year, it said.

A total of 16,93,569 vehicles were registered at regional transport offices (RTOs) across the country in June 2019, said the report.

Monthly retail data, based on the retail registration figures available from the VAHAN portal of the Ministry of Road Transport and Highways (MoRTH), covers 1,076 of 1,421 (around 75 per cent) regional transport offices as the RTOs in containment zones were not operational as per lockdown guidelines, it said.

After the unlocking, the underlying operational RTOs have been increasing at a quick pace from 930 in May to 1,076 in July, the report said adding that the data has been normalised for the corresponding RTOs to get a like-to-like picture of the retail trends.

PV registrations were down by around 30 per cent y-o-y to 1,58,619 in June as against 2,25,992 a year ago, while two-wheeler registrations fell 42 per cent in the previous month to 7,72,702 against 13,31 969 in June 2019, ICICI Securities said in the report.

Gujarat witnessed the highest drop in PV registrations at 81.7 per cent, followed by Maharashtra at 78 per cent.

However, in two-wheeler registrations, the decline was the most in Maharashtra at 85.1 per cent, followed by Gujarat that saw 83 per cent drop during the month, the report added.

According to the report, states that are performing relatively better are the rural-oriented ones such as Bihar, Uttar Pradesh, and Rajasthan.

Published on July 17, 2020

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