Vehicle Registration Falls by More than 40% in June: MoRTH Report
The retail registration figures data available with the Ministry of Road Transport and Highways VAHAN portal has indicated that there is a decline of around 43% in the new registration of vehicles for the month of June as compared to the same time last month. The figures for new vehicle registration stood at 9.67 lakhs in June 2020. However, it has also been observed that the tractor registration in the country has increased in the last month.
- The three-wheeler segment witnessed the biggest drop in June in which it fell 76% to 11806 registrations only.
- The only good thing is that the tractor segment logged about 10% growth in registration taking its tally to 44042 units during June 2020 against 39962 units in the same period last year.
- 1693569 vehicles have been registered in June 2019 whereas, in June 2020, the figures stand at around 967000.
- The data is available for 1076 Regional Transport Offices (RTOs) in the country out of 1421 since the rest of the RTOs did not function during the lockdown period.
- However, after the un-locking of the country, the number of RTOs working are increasing rapidly with around 1076 functional now as compared to 930, two months ago.
The Society of Indian Automobile Manufacturers also came out with the data for the sales figures of the vehicles for the June 2020 quarter. The salient data points of the report are:
- Domestic sales declined by 75.49% to 1491216 units as compared to 6084478 units sold in the first quarter of 2019-2020. Three-wheeler sales declined by 91.48% during the period.
- For passenger vehicles, the sales were down by 49.6% to 105617 units in June 2020 as compared to 209522 units in June 2019.
- The two-wheeler sales also declined by 38% to 1013431 units in June 2020 as compared to 1649475 units in the year-ago period whereas the three-wheeler sales also plunged by around 80% during this period.
- Registrations of the passenger vehicles were down by 30% to 158619 units as compared to 225992 units a year ago whereas the two-wheeler registrations also fell by 42% in June 2020.
- The states that are performing better are the rural economy-oriented states such as Bihar, Rajasthan, Uttar Pradesh etc. whereas Gujarat has seen the highest decline in the registration with Maharashtra following the suit.
- Only in the two-wheeler segment, Maharashtra recorded the highest decline followed by Gujarat during the period under consideration.
Month: Current Affairs - July, 2020
Category: Economy & Banking Current Affairs