Car dealerships witnessed Bloodbath in May, with sales down 55%: FADA

Car dealerships witnessed Bloodbath in May, with sales down 55%: FADA

The Federation of Automobile Dealers Associations (FADA) released retail vehicle data for the month of May on Thursday and, in the expected lines, the numbers were very bleak. According to the data, sales fell 55% last month compared to April, which was a hit for passenger vehicles.

Emphasizing that the comparison of the months of May 2021 and 2020 cannot be made due to the Lockdown months, the FADA noted that the comparisons were made between the previous month and the previous month, as well as with May 2019.

According to the data, sales of three-wheelers fell by 76% month-on-month, while sales of two-wheelers fell by 53%. The fall was in all other segments, with passenger vehicle sales falling by 56% and commercial vehicles by 66%. because it spread to rural areas.

Vinkesh Gulati, President of FADA, noted that the second wave of the pandemic has been particularly severe and that as a result, blockades across the country have had a major impact on the car retail sector. “Covid’s second wave has left the whole country devastated because there is not a single house that has not been damaged,” he said. “Not only the urban markets, but this time too the rural areas were very bad. May continued the blockade in most states.”

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Emphasizing that FADA needs support from the automotive retail guild, FADA sent a request to OEMs to provide financial support to each channel’s partners.

The FADA also called on Prime Minister Narendra Modi to leave the banks with 90 days ’motivation to maintain a turnover limit for all categories of vendors.

The worst may be over, but the road ahead is even darker, as they continue under Lockdown in many parts of southern India. But silver hedges may agree that the arrival of the monsoons is almost timely and looks set to recover in the first nine days of June.

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