India: Auto registrations continue to fall in double digits by 13.43% y-o-y in Feb ’21

The Federation of Automobile Dealers Associations (FADA), today, released Monthly Vehicle Registration Data for Feb ’21. The recent data shows 13.4% y-o-y decline in auto registrations in Feb. Tractors maintained its positive momentum by growing 19% y-o-y while the passenger vehicles (PV) witnessed double-digit growth of 10.6% y-o-y on a low base as India started transitioning from B-4 to BS-6 emission norms. This, coupled with the global semiconductor outrage kept the waiting period of PV as high as 8 months. Two-wheelers continued to see sluggish demand as the new wave of Covid in certain states kept customers away.