Passenger vehicle sales in India fall nearly 4% YoY in March: SIAM

Passenger vehicle wholesales in India declined 3.9 per cent year-on-year (YoY) to 2,79,501 units in the month of March, auto industry body SIAM said on Wednesday.

The total passenger vehicle sales in March 2021 stood at 2,90,939 units.

As per the latest data by the Society of Indian Automobile Manufacturers (SIAM), two-wheeler dispatches to dealers also fell 20.8 per cent to 11,84,210 units, compared to 14,96,806 units in March 2021.

Motorcycle sales during the last month also plunged 20.88 per cent to 7,86,479 units as against 9,93,996 in March 2021.

Scooter sales were also down 21.4 per cent at 3,60,082 units from 4,58,122 units a year ago.

Three-wheeler sales, however, declined marginally to 32,088 units as compared with 32,310 units in March last year.

Vehicle sales across categories fell 17.8 per cent to 14,95,848 units last month as against 18,20,062 units in the year-ago period.

 

Commenting on the 2021-22 performance, Rajesh Menon, Director General, SIAM said, “Overall Industry witnessed a de-growth of (-) 6 per cent in FY22."

"All segments are facing supply side challenges and the industry is yet to see complete recovery following the disruptions it has been facing since early 2020. Passenger Vehicles, Commercial Vehicles and Three-wheelers have witnessed a growth compared to a low base of the industry in 2020-21, but the Two-Wheeler segments further declined by (-) 11 per cent from the previous year," he added.

Kenichi Ayukawa, President, SIAM added, “The year gone by was full of unforeseen challenges and new learning for the industry. Indian auto industry has worked hard against these challenges to keep the value chain running, to indigenize parts, control cost, invest in new technologies, and enhance exports"

Talking about export performance, he said, “We are happy to share that all four segments of the industry have increased their exports. Infact, two-wheelers achieved their highest ever exports. It is good to see that Indian products are becoming more acceptable worldwide for their quality, cost and performance.”