Vehicle registrations fall in Covid-19 period

Daily registrations of vehicles slipped further to 72,000 units for the first fortnight of January 2021 against the reading of 74,000 units for the first week of January 2020, according to a report by the ICIC Direct Research report.

With domestic economic activity now regaining its pre-Covid fervour amid pressing need for personal mobility, the retail registrations are set to pick up pace going forward. (Note – Andhra Pradesh, Madhya Pradesh and Telangana are states not registered with Vahan. These states taken together have a 15 per cent of auto volumes and 20 per cent of tractor volumes)

E-Way bill generation for the month of January began on a strong note reaching 1.9 crore, which if compared to the average bill generation in the months prior to the Covid-19 (Oct 2019-Feb 2020) has reached 105 per cent levels of the average 5.5 crore bills.

E-Way bill generation for the month of April, May, July, August, September, October, November and December hovered at 16 per cent, 46 per cent, 79 per cent, 88 per cent, 90 per cent, 104 per cent, 116 per cent, 105 per cent and 116 per cent levels respectively.

NPCI data reveals that fast tag driven monthly vehicle volumes at various toll plazas (138.4 million) were up 10.8% MoM and have reached 126% of the pre-Covid levels in December, 2020.

(ICICI Direct Research from ICICI Securities Limited)