Between April 2020 and March 2021, 2,82,330 vehicles were registered in Maharashtra. However compared to the previous fiscal, the registrations came down by 6 per cent. 9 out of the top 10 states in India, have reported a year-on-year decline in vehicle registrations.
9 out of the top 10 states in India, with the highest vehicle registrations, have reported a YoY decline
9 of the Top 10 states by passenger vehicle #registration volumes posted degrowth in FY2021 on an annual basis. Vehicle registrations indicate #vehicles delivered to customers by automobile dealers and are a key indicator for retails. pic.twitter.com/CmqzXPtvSr
— JATO Dynamics India (@JATOIndia) May 10, 2021
Incidentally, Karnataka, which stands at the fourth position, was the only state that neither saw a decline, nor growth in vehicle registrations. In total, 1,81,143 vehicles were registered in the state during FY2021. Having said that, the second spot after Maharashtra was taken by Uttar Pradesh which reported an 11 per cent decline in new registrations at 2,59,510 units. Gujarat, which is at the third position at 2,25,557 units, also witnessed a decline of 11 per cent in new vehicle registrations.
At the fifth position, we have Kerala, which witnessed the highest decline of 15 per cent in new vehicle registrations, among the top 10, at 1,63,186 units. Followed by Tamil Nadu, which saw 1,56,844 registration and a YoY decline of 14 per cent. Haryana, Rajasthan and Delhi, all three witnessed a 13 per cent decline in new vehicle registrations, at 1,45,646 units, 1,35,172 units, and 1,27,936 units respectively. Finally, Punjab took the tenth spot witnessing 88,513 new registrations, with a decline of 14 per cent.
Now the simple reason these states seeing YoY decline is the COVID-19 pandemic. While the auto sector was facing one of the biggest slowdowns in FY2020, with the COVID-19 pandemic, and the resultant lockdown, the conditions were much dire during the fiscal year that ended with March 31, 2021. In April 2020, the industry for the first-ever time reported zero production and zero sales, and thing only started moving towards the latter part of May 2020. While the numbers are nowhere near the pre-COVID era, the industry soon got back on track, which is commendable.