Buzz Update Passenger vehicle sales fell nearly 4 percent in March TOU

Buzz Update Passenger vehicle sales fell nearly 4 percent in March

 TOU

Passenger vehicle sales fell nearly 4 percent in March

PTI

New Delhi, April 13

Wholesale sales of passenger vehicles in India fell by almost 4 per cent to 2,79,501 units last month, SIAM, the auto industry body, said on Wednesday.

Passenger Vehicle (PV) shipped 2,90,939 units in March 2021 from factories to dealerships.

According to the latest data from the Society of Indian Automobile Manufacturers (SIAM), two-wheeler sales fell 21 per cent to 11,84,210 units from 14,96,806 units in March 2021.

Motorcycle sales fell 21 percent to 9,86,479 units from 9,93,996 units in March 2021.

Scooter sales also fell 21 percent to 3,60,082 units from 4,58,122 vehicles a year ago.

During the financial year 2021-22, total PV wholesale sales increased by 13% from 27,11,457 units in 2020-21 to 30,69,499 units.

However, total two-wheeler deliveries fell by 11 per cent to 1,34,66,412 units in the last financial year compared to 1,51,20,783 units in 2020-21.

Sales of three-wheelers increased to 2,60,995 units from 2,19,446 units in the previous financial year. Similarly, wholesale sales of commercial vehicles also increased to 7,16,566 units in the last financial year as compared to 5,68,559 units in 2020-21.

However, total sales in the categories declined from 1,86,20,233 units in 2020-21 to 1,75,13,596 units in 2021-22.

SIAM President Kenichi Ayukawa said the past year has been full of unexpected challenges and new learning for the industry.

“The Indian auto industry has worked hard against these challenges to maintain the value chain, domesticate spare parts, control prices, invest in new technologies and improve exports. The government has also come forward with targeted support for PLI schemes, FAME scheme extension etc., ”he said.

Explaining the sales performance, he said that despite some recovery from the lower base, sales in the four segments of the auto industry were below the 2018-19 level.

“While some segments, such as commercial vehicles and SUVs, are seeing improvement in demand, large segments such as two-wheelers and small cars are facing serious financial problems. In fact, our immediate challenge in most sectors is semiconductor availability, “Ayukawa said.

Commenting on export performance, he said: “Four sectors of the industry have increased their exports. In fact, two-wheelers accounted for most of their exports. It is gratifying to see Indian products becoming more universally accepted worldwide due to their quality, price and performance. SIAM Director General Rajesh Menon said the industry as a whole saw a 6 per cent decline in FY22.

“All sectors are facing supply side challenges and the industry is yet to fully recover following the disruptions it has been facing since early 2020,” he added.

Menon noted that passenger vehicles, commercial vehicles and three-wheelers have achieved growth compared to the industry’s lower base in 2020-21, while the two – wheeler segment has declined by 11 per cent compared to the previous year.

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