Auto body optimistic on uptick in retail sales from April 2021
India’s pandemic-battered automobile retail segment is expected to log year-on-year (YoY) growth only from April 2021, Federation of Automobile Dealers Associations’ President Vinkesh Gulati said.
migrator
New Delhi
He said he expected continuation of the month-on-month growth during the first quarter of CY2021, but not a YoY uptrend. “JFM (January-February-March) quarter last year saw high registrations due to BS-4 sunset date of March 31. While the industry may continue to see MoM growth, we will definitely not see YoY growth or even similar numbers in the first quarter of CY21,” Gulati said.
“Things may start looking good on a YoY basis beginning April 2021 due to low base effect but real growth can only be achieved if we surpass FY18-19 numbers.”
Recently, the festive season had boosted retail sales by 29.32 pc in November on a sequential basis. But, sales remained in the red on a YoY level. The FADA data showed vehicle registration in Nov rose to 18,27,990 units from 14,13,549 units sold in Oct.
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