Passenger Vehicle Sales Fell 4% In March 2022

Passenger vehicle sales fell in March 2022

New Delhi:

Auto industry body Society of Indian Automobile Manufacturers (SIAM) on Wednesday said passenger vehicle (PV) wholesale sales in India declined nearly 4 per cent last month to 2,79,501 units.

PV dispatches from factories to dealerships stood at 2,90,939 units in March 2021.

Two-wheeler sales also fell 21 per cent to 11,84,210 units as compared to 14,96,806 vehicles in March 2021, according to the latest SIAM data.

Motorcycle sales declined by 21 per cent to 7,86,479 units as against 9,93,996 units in March 2021.

Scooter sales also declined by 21 per cent to 3,60,082 units from 4,58,122 units a year ago.

In the 2021-22 financial year, total PV wholesale sales grew by 13 per cent to 30,69,499 units as against 27,11,457 units in 2020-21.

However, total two-wheeler dispatches declined by 11 per cent to 1,34,66,412 units in the last fiscal as against 1,51,20,783 units in 2020-21.

Three-wheeler sales increased to 2,60,995 units in the last fiscal from 2,19,446 units in FY21. Similarly, total commercial vehicle wholesale sales also increased to 7,16,566 units in the last fiscal as against 5,68,559 units in 2020-21.

However, overall sales across categories declined to 1,75,13,596 units in 2021-22 as against 1,86,20,233 units in 2020-21.

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

“Indian auto industry has worked hard against these challenges to keep the value chain running, indigenous parts, control cost, invest in new technologies and increase exports. Even with targeted support like government PLI schemes, FAME scheme expansion etc. has come to the fore,” he said.

Elaborating on the sales performance, he said that despite some recovery from the lower base, sales across all four segments of the auto industry are also below 2018-19 levels.

On the export performance, Mr. Ayukawa said, “All the four segments of the industry have increased their exports. In fact, two wheelers have achieved their highest ever exports. It is good to see that Indian products are able to maintain their quality, cost and efficiency. are becoming more acceptable around the world for more performance.”

SIAM Director General Rajesh Menon said the industry overall saw a decline of 6 per cent in 2021-22.

“All the segments are facing supply side challenges and the industry is yet to fully recover as it has been facing since the beginning of 2020,” he added.

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