All segments of automobiles except tractors witnessed positive growth m-o-m

All segments of automobiles except tractors witnessed positive growth m-o-m

All segments of automobiles except tractors witnessed positive growth m-o-m

BusinessToday.In
  • Dec 10, 2020,
  • Updated Dec 10, 2020 11:49 AM IST
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All segments of automobiles (except tractors) witnessed positive growth m-o-m, where two wheelers, were one of the best performing segments with rise in retail sales of 35.7% m-o-m. New model launches and premiumization helped clock positive growth for these this segments during the month.
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The three wheelers segment, though has shown some positive growth sequentially, but is still the weakest performing segments of automobiles in FY21 (till date). It has grown 8.1 % on M-O-M basis to 24185 units in November.
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Commercial vehicles retail sales rose 12.7%. The demand for bus segment remains muted as most schools continue to remain closed and large number of offices still encourages work from home practice.
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Passenger vehicles witnessed a rise in retail sales of 16.5% m-o-m in November 2020. The retail sales of passenger vehicles witnessed a growth of 4.2 % on yearly basis in Nov 2020 with aggregating to 2.9 lakh.
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Tractors reported negative growth m-o-m in November 2020. The three wheelers segment, though has shown some positive growth sequentially, but is still the weakest performing segments of automobiles in FY21 (till date).
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November 2020 was a significant month for discretionary purchases. Though celebrations have remained muted this year due to the ongoing pandemic, automobile retail sales in India have shown an impressive growth of 29.3% sequentially
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