The momentum in vehicle registrations has continued into the month of November partly due to the pre-November 20 budget surge and the relaxation of Loan to Value (LTV) rule, recent statistics showed. Accordingly, total motor car registrations recorded 10,054 units in November slightly down from 10,349 units in October but significantly higher than 2,419 units recorded 12 months ago while brand new car registrations recorded 6,682 units in November, the second highest number on record slightly higher than 6,225 units recorded in October but lower than the all-time record set in September of 9,427 units, the figure 12 months ago was 672 units showing a YoY growth of almost 1,000%. Almost 95% of the total are from small cars, i.e. less than 1,000cc, mainly Marutis accounting for 5,578 units (Alto – 5,105, Celerio – 459) followed by Panda Micro with 543 units. Hyundai recorded 176 mainly from Eon – this is a stylish looking car and its segment share is expected to go up in future.
Meanwhile, pre-owned car registrations recorded 3,372 units in November, a drop from 4,124 units in October, but was higher than 1,747 units recorded 12 months ago.
Financing share was at 65% indicative that the relaxation of the LTV rule drove volumes although they are down from the highs set in September of 5,117 units.
Premium segment recorded 77 units (30 brand new units and 47 pre-owned units) down from 101 units in October but up from 61 units 12 months ago. 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) followed by BMW accounting for 7 brand new units (5-series 7) and 19 pre-owned units (5-series 6).