Auto sales remain sluggish
New Delhi: Domestic vehicle sales continue to be slow. In the final quarter of FY 2021-22, total passenger vehicle segment sales fell 4% to 2,79,501 units.
According to the Society of Indian Automobile Manufacturers (SIAM), passenger (PV) sales over 2021 were 2,90,939 units. Other vehicle segments such as three-wheelers also saw a marginal decline, with sales amounting to 2,90,939 units from 2,90,939 in March 2021.
Two-wheeler sales were hit hard, with numbers dropping 21%. Sales through March 2022 were 11,84,210 units compared to 14,96,806 units in March 2021. The sales figure, however, remains higher than those recorded during the 2019-2020 financial year when sales of two-wheelers had fallen at 8,66,845 units.
Commenting on the annual sales data, Kenichi Ayukawa, President of SIAM, said: “Despite some recovery from a weak base, sales of the four segments of the automotive industry are even below the level of 2018-19. While some segments like commercial vehicles and SUVs are seeing an improvement in demand, mass segments like two-wheelers and small cars are facing serious affordability issues.Of course, our immediate challenge in most segments is the availability of semiconductors. On the export front, he said, “We are pleased to share that all four segments of the industry have increased their exports. In fact, two-wheelers have achieved their highest exports ever. It is good to see that Indian products are becoming more acceptable worldwide for their quality, cost and performance.”
While in the two-wheeler sub-segment, motorcycle sales were down 21% to 7,86,479 units from 9,93,996 units in March 2021, and scooter sales were also down 21% to 3,60,082 units against 4,58,122 units. vehicles a year ago. Total sales in all categories decreased to 1,75,13,596 units in 2021-22 from 1,86,20,233 units in 2020-21.
Rajesh Menon, Managing Director of SIAM, said, “Overall, the industry experienced a (-)6% decline in FY22. supply and the industry has yet to see a full recovery from the disruptions it faced. since early 2020. Passenger vehicles, utility vehicles and three-wheelers have grown from a weak industry base in 2020-21, but the two-wheeler segments are still down (-) 11% compared to the previous year. »