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PV sales grow 17.9% in Feb amid supply chain challenges: SIAM

In fiscal year so far, auto industry sold 1.9 crore units against 2.4 crore during same period previous year, marking an 18.92 per cent decline. Three-wheeler sale saw biggest 69.77 per cent decline, followed by two-wheelers at 17.69 per cent

Manoj Sharma | March 10, 2021 | Updated 23:45 IST
PV sales grow 17.9% in Feb amid supply chain challenges: SIAM
Rajesh Menon, Director General, SIAM, supply chain challenges continue to be obstacles in smooth functioning of industry

Showing a strong comeback, passenger vehicles sales grew 17.92 per cent in February at 281,380 units compared to 238,622 units produced in February 2020, SIAM (Society of Indian Automobile Manufacturers) data showed. The overall sale -- passenger vehicles, three-wheelers, two-wheeler, and quadricycle -- saw 15.36 per cent growth at 22.5 lakh units in February 2021 as compared to 19.5 lakh sold in February 2020.

In the three-wheeler category, 27,331 units were sold compared to 41,300 in February 2020, marking a decrease by (-) 33.82 per cent. Two-wheeler sales grew 10.2 per cent at 14.2 lakh units as against compared to 12.9 lakh in the same period last year.

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In the fiscal year so far (April-February), the auto industry sold 1.9 crore units as against 2.4 crore sold during the same period in the previous year, marking an 18.92 per cent decline. In the year so far, the three-wheeler sale saw the biggest 69.77 per cent decline, followed by two-wheelers at 17.69 per cent decline, and PVs at 10.35 per cent degrowth.

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According to Rajesh Menon, Director General, SIAM, supply chain challenges, including the rising price of steel, unavailability of semiconductors and higher container charges, continue to be obstacles in the smooth functioning of the industry.

The data collated by the Federation of Automobile Dealers Association (FADA) also showed passenger vehicles registered sales of 254,058 units last month, which indicated clear momentum in the revival story. Sales had grown for the first time in this fiscal in December only to decline again in January. India's economy had resurfaced to growth territory in the third quarter of FY 20-21, clocking a 0.4 per cent rise in the GDP.

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