Chennai: The Federation of Automobile Dealers Associations (FADA) has released the monthly vehicle registration data for the month of March and it said sales in March showed marginal growth after a sharp dip in February.
For the month of March, on a year-over-year (y-o-y) basis, there was de-growth in all the categories as March 2018 was one of the biggest months for retails last fiscal, said a release from the association. The industry showed positive signs on a monthly basis as compared to February, it added.
FADA said the vehicle registration data was collated in collaboration with Ministry of Road Transport and Highways and has been gathered from 1,170 out of 1,441 RTOs.
FADA appreciated the efforts of OEMs to cut production on the back of high inventory. It further said liquidity, both for the consumer and the dealer, remained very tight and operating cost of auto dealerships were at its peak, owing to higher inventory and selling costs.
President, FADA, Ashish Harsharaj Kale, said, “We at FADA believe that the worst for auto industry is now behind us and expect plateauing of the declining demand and expect sales to stabilise in their current normal range for the next four to six weeks.”