28% decline in vehicle registrations in March, worst condition of three-wheelers; Maruti’s dominance in passenger vehicle increased

The effect of the coronavirus is not ending with the auto industry. The Federation of Automobile Dealers Association (FADA) has released figures of vehicles to be registered in March. According to these figures, vehicle registration declined by 28.64% on an annual basis. However, the figures are better than in February 2021. Even in February, vehicle registrations fell by 13.43% year-on-year. Let me tell you that for the last two months only growth has been seen in the passenger vehicle and tractor segment.

28% growth in passenger vehicle segment

While overall vehicle registrations declined in March, the passenger vehicle segment grew by 28.39% during this period. Last month, 2,79,745 vehicles were registered in this segment. In March 2020, the figure was 2,17,879. That is, 61,866 passenger vehicle registrations were registered on an annual basis.

29% growth in the tractor segment

There has been a steady increase in tractor sales and registrations during the Corona period. The segment grew 29.21% in March 2021 as well. Last year, 69,082 tractors were registered in this segment. In March 2020, this figure was 53,463. That is, on an annual basis, the registration of 15,619 tractor passenger vehicles was more than last year.

Maruti dominates the passenger vehicle segment

Last month, 1,29,412 vehicles of Maruti Suzuki India Limited were registered. In March 2020, 94,355 vehicles were registered by the company. The company’s market share increased to 46.26% as compared to March 2020. Hyundai Motor India Limited was followed by Maruti at 16.34%. It registered 45,719 vehicles.

Hero dominates the two-wheeler market share

While there has been a decline of 35.26% in the vehicle registration of the two-wheeler segment, Hero MotoCorp Limited has gained the most in the meantime. In March, Hero registered 3,96,573 vehicles and had a market share of 33.17%. However, its market share fell 9.54% compared to March 2020. Honda Motorcycle and Scooter India stood at second place in the market share with 26.19%.