Slump fails to put brakes on sale of four-wheelers in city
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A SLUGGISH economy, rising interest rates and increasing fuel price have not deterred Mumbaikars from purchasing new vehicles. A 4.8 per cent increase in four-wheeler registration has been reported by the transport department between April and November 2013 as compared to the same period
According to data from Mumbai, 1.23 lakh vehicles were registered in 2013 as against 1.19 lakh in 2012.
The state saw a growth of 6.8 per cent, with 13.42 lakh vehicles registered between April and November 2013 as compared to 12.56 lakh during the same period in 2012.
While a 3.5 per cent drop in two-wheeler registration has been recorded in Mumbai, the state has noted a 74 per cent increase for the same. Across Maharashtra, there has been a 2.3 per cent increase in four-wheeler registration.
According to transport officers, good monsoon and good harvest are believed to have driven rural Maharashtra to invest in two-wheelers, unlike Mumbai where cars continue to be a priority despite less parking space.
The data suggests that Diwali continues to motivate purchase, with maximum month-on-month fluctuation of 16 per cent in Mumbai and 23 per cent in Maharashtra, observed in October 2013.
While the demand of two-wheelers in the state has gone up by 31 per cent, it has dropped by 4.5 per cent in Mumbai. There was also a 3 per cent drop in motorcycle registration in the city, unlike the state where registration has gone up by 8 per cent.
"When we compare Mumbai and Maharashtra, data indicates that for Mumbaikars, cars continue to be of aspirational value. The state on the other hand has seen a 74 per cent increase in two-wheeler registration. This is phenomenal as two-wheelers typically constitute 65 per cent of vehicular registration," said V N More, transport commissioner.