Vehicle registration drive continues into November on pre-budget factors

18 December 2015 04:56 am - 0 - {{hitsCtrl.values.hits}}

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Vehicle registration momentum continued into the month of November largely due to an expected surge prior to a budget announcement and the relaxation of Loan to Value (LTV) rule, a report compiled by equity brokerage JB Securities said.
Total motor cars registrations recorded 10,054 units, a year-on-year (yoy) increase of 2,419 units, but lower compared to the 10,349 recorded in October this year.

Brand new car registrations recorded 6,682 units, a staggering 1000 percent yoy increase compared to the corresponding month in 2014.
It is the second highest number on record after the 6,225 units registered in October.
Of the total brand new car registrations, almost 95 percent were from small cars, i.e. less than 1,000cc.
Small cars mainly consisted of Maruti, accounting for 5,578 units (Alto - 5,105, Celerio - 459) and Panda Micro with 543 units. Hyundai recorded 176 mainly from Eon, a model which will capture a larger market share in the future, according to JB Securities.
Pre-owned car registrations recorded 3,372 units in November, a dip from 4,124 units in October, but higher than the 1,747 units recorded in November 2014.
The report highlighted that the financing share stood at 65 percent, indicative that the relaxation of the LTV rule drove volumes although they were down from the 5,117 units in September.

Premium segment saw the registration of 77 units of which 30 were brand new units and 47 were pre-owned units.
Although it was a marginal increase compared to the 61 registered in November 2014, it is a contraction from the 101 recorded in the previous month.
Mercedes accounted for 16 brand new units (C-class 9, E-class 4 and S-class 2) and 23 pre-owned units (C-class 5, E-class 8 and S-class 2), whereas BMW accounted for 7 brand new units (5-series 7) and 19 pre-owned units (5-series 6).

Electric cars recorded 494 units in November, slightly down from 528 units in October, but an increase from the 9 units 12 months ago.
Nissan Leaf accounted for 470 units followed by 9 units of BMW I3, Mercedes B class 9 and 1 Tesla unit.
SUVs recorded 787 units, a decline from 797 units recorded in October and the 1369 units registered in the same month the previous year.
Mitsubishi stood out as the SUV market leader with 235 units (Outlander - 167 units, Montero - 58) and was closely followed by Nissan with 166 units (Xtrail hybrids) and Toyota with 134 units (Prado - 107, Harrier - 24).

Observed was a notable decline is Honda Vezel as the registration dropped to 83 units from 1,293 the previous year.
According to JB Securities a noteworthy observation was that of the 787 hybrid units registered last month, 418 units were hybrids of which 399 were pre-owned.

In the non-hybrid category volumes mainly came from agent imported diesel Mitsubishi Monteros (permit vehicles) and pre-owned Toyota Prados. Financing share for the same was 55.1 percent in line, with levels recorded in the last few months.
Hybrid registrations recorded 3,240 units during November, a contraction from 3,970 units recorded in October. However it is higher than the 2,864 units recorded 12 months ago.

Motor cars accounted for 2,790 units of which Suzuki accounted for 1,174 units (Wagon R - 1,102) followed by Toyota accounting for 979 units (Aqua - 456, Axio - 343, Prado - 167) and Honda with 578 units (Fit - 360).
Financing share for motor cars was at 64.8 percent a level consistent with prior months.

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Vehicle registration drive continues into November on pre-budget factors

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