September 17, 2019
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    Vehicle registrations slow in February

    March 16, 2019

    Vehicle registrations slowed in February due to low demand and a smaller number of calendar days in the month. Total car registrations recorded 2,347 units in February (Feb.) significantly down from 3,147 units the previous month and significantly down from 5,024 units 12 months ago. Brand new motor cars recorded 434 units in Feb marginally up from 429 units the previous month but significantly down from 773 units 12 months ago. Small engine cars accounted for 76.3% of volumes. Indian OEMs are yet to produce cars with Euro 4 compliant engines and dual airbags thus they are excluded from the market. Financing share was 50.2% in line with the normal monthly average.

    Pre-owned motor cars recorded 1,913 units in Feb down from 2,718 units the previous month but significantly down from 4,251 units 12 months ago. Small engine cars (less than (<) 1,000cc) accounted for 90.2% of volumes. To Premium motor cars recorded 111 units in Feb marginally down from 113 units the previous month and 188 units 12 months ago. The new segment accounted for 55 units. The pre-owned segment accounted for 56 units, BMW accounted for 21 units (3-series 10) followed by Audi for 19 units (A1 7, A3 9) and Mercedes Benz for 15 units.
    Amongst notable premium car registrations for the month is a Bentley Continental GT that we estimate to have a cost of Rs 75 mn. Electric vehicles recorded 7 units in Feb slightly up from 4 units the previous month but down from 23 units 12 months ago. SUVs recorded 534 units in Feb sharply down from 735 units the previous months but up from 464 units 12 months ago. Brand new units account for 292 units, the balance 242 units are pre owned.
    Hybrids recorded 953 units in Feb witnessing a decline from 1,232 units the previous month and a steep decline from 2,685 units 12 months ago. Vans recorded 468 units in Feb down from 550 units the previous month and 791 units 12 months ago. Mini vans (engines less than <1,000 cc) account for 84.6%. Three-wheelers recorded 1,341 units in Feb down from 1,706 units the previous month and 1,471 units 12 months ago. Bajaj is dominant in the category with a 92.5% share. Financing share was 67.7% in line with the normal monthly average.
    2-wheelers recorded 23,165 units in Feb down from 28,114 units the previous month and 27,812 units 12 months ago. Scooters recorded 15,120 units in Jan down from 18,206 units the previous month. Buses recorded 90 units in Feb down from 136 units the previous month and significantly down from 252 units 12 months ago. Financing share was 84.4%. Ambulances recorded 93 units in Feb slightly down from 137 units the previous month and zero 12 months ago. Ford accounted for 114 units up from 93 units the previous month. Vehicle registrations slow in February

     

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