In TN, there is an increase in the sales of vehicles now
Posted on: 09/Oct/2020 9:21:05 AM
More people have bought vehicles in TN and this was shown in the sales of the two wheelers and cars. The important piece of information is that more than 1.7 lakh new vehicles have hit the roads in TN in September. There was 17.8% increase in the sales last month when compared to September 2019.
The lack of adequate public transport like buses and trains even after the relaxation of Covid-19 lockdown norms and reopening of industries and offices has been cited as the reason for increased sales of vehicles. This has been as per the stakeholders.
As per Mr. J. Sivasubramanian, Institute of Transportation and Development Policy or ITDP, it was clear that around 36 lakh people travel on the buses in Chennai every day. He added that without the public transport these people have to look into other modes of transport. This has resulted in the steep increase in the sales of the private vehicles. To gain back these riders, it is important that Chennai must bounce back with improved public transport services
Chairperson of Federation of Automobile Dealers Association, Mr. S. Rajvel spoke about how sales almost came to stand still in March and April months. He threw light on how almost all dealers in TN except those in Chennai have achieved similar half yearly turnovers till September due to increased sales in the past 8 weeks.
The dealers in the TN districts recorded 20% to 25% increase in the sales and it was because of the fact that the people who had vacated Chennai to their natives needed vehicles for their daily commute. It must be taken into note that the demand for 2 wheelers has been so high in TN and due to this the prices of second hand vehicles have almost doubled in smaller towns.
There are many who have sold their old vehicles and used the amount as down payment to purchase new vehicles. This was brought to light by a showroom owner in Madurai. Point is that the private vehicles registration growth was less than 20% but tractor sales recorded 92.5 % increase.
