Auto shipments drop 23% in February as supply issues continue: SIAM
Shipments of autos from factories to dealerships across the country fell 23% in February amid various supply-side challenges, including shortages of semiconductors and rising vehicle prices due to implementation of new regulations, continued to impact the demand scenario, industry body SIAM said on Friday.
Wholesale sales of domestic passenger vehicles, two-wheelers and three-wheelers fell 23% to 13,28,027 units last month from 17,35,909 units in February 2021.
Overall passenger vehicle shipments in February 2022 fell 6% to 2,62,984 units from 2,81,380 units in the same month last year.
Wholesale passenger car sales stood at 1,33,572 units last month from 1,55,128 units in February 2021. However, commercial vehicle shipments increased to 1,20,122 units from 1,14,350 units in the same period from last year.
Pickup truck sales, however, fell to 9,290 units last month from 11,902 units in February 2021.
Similarly, total wholesale sales of two-wheelers fell to 10,37,994 units in February from 14,26,865 units in the same month last year, a decline of 27%.
Wholesale scooter sales fell to 3,44,137 units in February from 4,65,097 units in the same period last month.
Motorcycle sales also fell to 6,58,009 units last month from 9,10,323 units in February 2021.
Similarly, sales of three-wheelers fell slightly to 27,039 units last month from 27,656 units in February 2021.
“Ongoing supply-side challenges, such as shortages of semiconductors, rising costs due to new regulations, rising raw material prices and logistics costs, etc., have had an impact on the overall sales of the automotive industry,” the chief executive of the Society of Indian Automobile Manufacturers (SIAM) said. said Rajesh Menon.
The industry is watching closely for the possible impact of the ongoing conflict between Russia and Ukraine, as global supply chains could come under strain, he added.
Last month, total production of passenger vehicles, three-wheelers, two-wheelers and quadricycles fell by 20% to 17,95,514 units from 22,53,241 units in February 2021.
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