Three Indian States Oversee Vehicle Registration Growth in October
Vehicle registrations have been slowing since the end of 2018, as a result of dampening consumer sentiment and economic activity. The fall in consumer end has been exacerbated by changes in emission standards in India, from BS-IV to BS-VI.
In addition, the impact of the lockdown has been adverse on overall registrations. In terms of the performance of states, the YTD values for the current year show larger states such as Uttar Pradesh, Tamil Nadu, and Maharashtra as leaders in motor vehicle registrations.
For October, three states have registered a growth in their year-on-year values including West Bengal, Himachal Pradesh, and Jammu and Kashmir. The stellar increase in states of Himachal Pradesh and Jammu & Kashmir can most likely be attributed to the defence infrastructure development, while the increase for West Bengal is a possible result of the heavy reverse migration and an uptick in agricultural activities in the state.
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