Passenger Vehicle Sales Rise At The Fastest Pace In Five Months: SIAM
Factory-gate shipments of passenger vehicles rose at the fastest pace in five months, helped by utility vehicles and a low base even as supply chain constraints persist.
Domestic wholesales of passenger vehicles rose 17.92% year-on-year to 2.8 lakh units in February, according to data released by the Society of Indian Automobile Manufacturers. That’s the seventh straight month of increase in sales.
Car sales rose 4.43% over the year earlier to 1.55 lakh units.
Wholesales of utility vehicles jumped 45.35% to 1.14 lakh units — the seventh straight month of pick-up for the segment.
Total two-wheeler sales, too, increased for the seventh month in a row.
Total passenger vehicle shipments also rose 1.7% over the preceding month.
Around this time last year, auto and component makers—together contributing more than 7% to the nation’s GDP—had begun facing supply chain disruptions due to the pandemic, along with pressures of transition to Bharat Stage-VI emission standards, worsening the already slowing sales.
While the lifting of the lockdown offered hopes to automakers as they scaled up production to cater to an increase in demand for personal mobility and make up for the washout during the initial months of the stay-at-home curbs, a global shortage of microprocessors—the brains of electronic components used to control everything from anti-lock braking to airflow systems of cars—is making a quick ramp-up difficult.
“Supply chain challenges continue to be obstacles in smooth functioning of the industry,” Rajesh Menon, director-general at SIAM, was quoted as saying in the media statement. Rising price of steel, unavailability of semi-conductors and higher container charges, he said, continue to impact the industry.
Auto sales in February: segment-wise breakup (year-on-year)
Scooter sales rose 10.09% to 4.64 lakh units.
Motorcycle sales increased 11.47% to 9.10 lakh units.
Total two-wheeler sales jumped 10.20% to 14.26 lakh vehicles.
Total three-wheeler sales slumped 33.82% to 27,331 units.
Three-wheelers sale, according to Menon, continue to suffer a contraction, primarily on account of lower offtake of passenger three-wheelers.
SIAM releases sales data for commercial vehicles on a quarterly basis.