Vehicle registration momentum increased in March with cars leading the pack despite the two holidays during the month reducing the number of working days.
According to J. B Security Research monthly review motor cars recorded 5,968 units in March up by 24.35% compared to 4,799 units in February and doubling the units recorded 12 months ago of 2,879. Brand new cars recorded a moderate 1,051 units in March although significantly up from 770 units in Feb and marginally down from 936 units 12 months ago.
Small cars with engines less than 1L contribute 87.6% of volumes. Financing share was 52.2% in line with previous months but down from the level in 2017 that were around 60%. Pre owned cars recorded 4,917 units in March up by 22% from Feb figure of 4,029 and up by over 250% from the 1,943 units from 12 months ago. Last month’s registrations are second to the record set in Sep 2015 of 5,117 units on pre owned cars. Premium branded motor cars recorded 249 units in March a significant increase from 188 units in Feb and almost 4x growth from 66 units 12 months ago. SUVs recorded 470 units in March marginally up from 464 units in Feb and marginally down from 504 units 12 months ago. Hybrid vehicles recorded 3,342 units in March significantly up from 2,685 units in Feb and up from 2,023 units 12 months ago. Motor cars accounted for 2,960 units followed by Vans accounting for 246 units and SUVs for 128 units. Electric cars recorded 14 units in March significantly down from 27 units in Feb and 31 units 12 months ago. Of the 14 units, Nissan Leaf accounted for 13 of them – all of them are the first generation models.
Vans recorded 994 units in March flat in comparison to 995 units recorded in Feb and marginally up in comparison to 828 units 12 months ago.
3-wheelers recorded 1,525 units in March marginally up from 1,471 units in Feb and an increase from 1,299 units 12 months ago. Nevertheless, this number is significantly lower than the normal 6-10,000 units recorded prior to the directive on loan to value ratio and higher tariffs.
2-wheelers recorded 29,957 units in March up from 27,428 units in Feb but down from 31,029 units 12 months ago. Scooters drove the increase recording 18,128 units and a segment share of 60.5%.
Pickup trucks recorded 159 units in March marginally up from 145 units in Feb but down from 223 units 12 months ago.
Buses recorded 271 units in March up from 252 units in Feb and down from 381 units 12 months ago.
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