Motor car registrations recorded 2,897 units in February marginally up from 2,888 units a month ago and significantly down from 4,138 units 12 months ago, a recent analysis by a securities research firm showed. According to JB Securities, as a point of reference the number was 10,084 units in November and 14,544 units in September last year.
The lackadaisical trend from January has continued into February with the 70 percent LTV rule, significant increases in tariffs, continuing weakness in the rupee, surprising strength in the Yen and rising interest rates have retarded volumes, JB Securities said in a research note.
Brand new segment registrations recorded 1,066 units in Feb marginally up from 1,023 units the previous month and also down from 1,920 units recorded 12 months ago.
Maruti recorded 523 units in Feb recovering from its 20-month low of 255 units recorded the previous month but still lower than 1,496 units recorded 12 months ago. As a point of reference Maruti registrations recorded 5,631 units in Nov and 8,029 units in Sep last year.
Micro registrations also crashed to 182 units in Feb from 415 units the previous month but up from 142 units 12 months ago. Tata recorded 109 units of which 62 units were Nano Twist and 33 units were Indica.