Tuesday, June 15
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Tag: FADA

‘Retail auto sales slip 28% over March; May to see muted run’

‘Retail auto sales slip 28% over March; May to see muted run’

Business
With almost all the States resorting to either a partial or a full lockdown amid the second wave of the pandemic, total retail vehicle registrations declined 28% to about 11.85 lakh units in the last month compared with March, the Federation of Automobile Dealers Associations (FADA) said on Monday.For the full year ended March 31, vehicle sales fell almost 30% to 1.52 crore units. Annual vehicle registrations were below FY13 levels, that is, their lowest in eight years.The automotive dealers’ body added that the second wave of COVID-19 has not only hit urban markets but also unsettled the rural segment, which was relatively insulated the first time around. Hence, recovery is expected to take longer than that following the first wave. As per FADA’s data, retail sales of passenger vehi...