As per the data released by FADA, total vehicle retails for the month of August’21 rise by 14.48% on a YoY basis.
When compared to August’19 (a regular pre-covid month), retails are still down by -14.75%. On a YoY basis, all categories were in green with 2W up by 6.66%, 3W up by 79.70%, PV up by 38.71%, Tractor up by 5.50%, and CV up by 97.94%.
Both Tractors, as well as PVs, continue to see robust demand as they grow by 35.98% and 31.67% when compared to August’19, a pre-covid month.
The Sensex might be breaching 47K levels but situation at ground level is not that encouraging.
The Auto Industry was just recovering from the BS-6 , Poor Demand in 2019 and 2018 and it got struck by Covid19. The Market has surely opened up but demand is still not consistent.
Manufacturing facilities continue to suffer from covid related closures. Manpower outages are still not that uncommon. Supplies get stuck due to covid or agitations.
Industrial Output, earnings are still down. The new strain from UK is also bad news. This seems the time to just stay healthy and protected, ensure family is safe ; Surviving seems to be the new thriving!
Continue reading “Industry Outlook 2021 : Overall Seems Positive”
The year was 2018. The Industry had prepared for the festive season in a similar way, pumping inventory down the dealers’ necks. We all know what happened. The inventory got stuck and had a domino effect, all through the subsequent year. It eventually led to the biggest sales drop in 20 years in 2019.
The reasons cited for low demand back then were : 1. High Insurance Cost 2. High fuel Prices 3. Rise of Shared Mobility Options.
The reasons in 2020 are far more serious and we know it.
We need focussed thinking and absorption of consumer sentiment and Industry stakeholders’ feedback
These 5 Basic Questions can be a starting point :
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