August auto retail sales up sequentially, down on YoY basis

Vehicle registration or retail sales rose in August on a sequential basis, industry data showed on Wednesday.

However, the data also showed that sales remained deep in the red on a year-on-year basis.

The Federation of Automobile Dealers Associations’ data showed that vehicle registration in August rose to 11,88,087 units from a retail off-take of 11,42,633 units reported for July.

Nevertheless, on a YoY basis, August retail sales declined by 26.81 per cent to 11,88,087 units from 16,23,218 units off-take during the like month of last year.

In July, the downslide rate in vehicle registration was 36.27 per cent on a YoY basis.

The ‘green shoots’ in sequential retail off-take were witnessed on the back of lower base and festive season.

Nonetheless, the trend also showed that India’s auto sector continues to reel under the economic impact of the Covid-19 outbreak.