Passenger vehicle sales decline by 4% in March 2022: SIAM

18 Apr 2022 , 05:34 PM

Auto industry body SIAM said, India’s Passenger vehicle (PV) wholesales down 4 per cent to 2,79,501 units in March 2022. PV dispatches from factories to dealerships in March 2021 stood at 2,90,939 units.

Two-wheeler sales also declined 21 per cent to 11,84,210 units as compared with 14,96,806 vehicles in March 2021, SIAM said. Motorcycle sales fell by 21 per cent to 7,86,479 units as against 9,93,996 units in March 2021. Scooter sales were also down 21 per cent to 3,60,082 units from 4,58,122 vehicles a year ago.

Commenting on the 2021-22 performance, Mr Rajesh Menon, Director General, SIAM said, “Overall Industry witnessed a de-growth of (-) 6% 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% from the previous year.”

Commenting on annual sales data, Mr Kenichi Ayukawa, President, SIAM said, “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. The Government also came out with targeted support like PLI schemes, FAME scheme extension, etc. ” Elaborating on the sales performance, he mentioned, “Despite some recovery from a low base, sales of all four segments of the auto industry are below even 2018-19 level. While some segments like Commercial Vehicles and SUVs are seeing improvement in demand, the mass segments like two-wheelers and smaller cars are facing serious affordability issues. Of course, our immediate challenge in most segments is semiconductor availability.”

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.”