Passenger Vehicles Record 8.05 Per Cent Sales Decline In January 2022: SIAM

According to the sales data published by the Society of Indian Automobile Manufacturers (SIAM), the passenger vehicle (PV) segment in India recorded a decline of 8.05 per cent to 2,54,287 units in January 2022, compared to 2,76,554 units sold in January 2021. Two-wheeler sales fell by 21.09 per cent to 11,28,293 units in January 2022 as against 14,29,928 units sold during the same time last year. Three-wheeler sales also dipped by 10.09 per cent to 24,091 units in January 2022 from 26,794 units in January 2021. Combined, 14,06,672 units were sold in January 2022, compared to 17,33,276 units sold in the same period last year, registering a fall of 18.84 per cent.

The passenger vehicle (PV) segment in India recorded a decline of 8.05 per cent to 2,54,287 units in January 2022 period, compared to 276,554 units sold in the same period in January 2021.

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As far as the production of vehicles goes, a total of 18,60,809 units were manufactured, as against 22,06,710 units produced in January 2021, recording a tumble of 15.67 per cent, while exports saw a marginal drop of 1.75 per cent, as 4,63,077 units were distributed in January 2022, as compared to 14,06,672 in January 2021.

Rajesh Menon, Director General, SIAM said, “Sales in the month of January 2022 again declined compared to January 2021, due to both omicron-related concerns and semiconductor shortages. There is clearly a demand issue for two-wheelers due to lower rural off-take of entry-level models. Three-wheelers continue to be severely affected due to lower sales. On the other hand, the passenger vehicle segment is unable to meet the market demand due to supply-side challenges resulting in sales in January 2022 being even lower than January 2021.”

The two-wheeler sales however fell by 7.81 per cent recording 11,244,208 units during this period as against 12,197,112 units sold during April – January 2021.

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Moving to the cumulative domestic sales during April - January 2022, a total of 24,03,125 units were sold in the period, as compared to 20,54,428 units sold during April – January 2021, registering a year-on-year growth of 16.97 per cent. Two-wheeler sales however fell by 7.81 per cent recording 1,12,44,208 units during this period as against 1,21,97,112 units sold during April - January 2021. Three-wheeler sales saw a surge of 26.58 per cent, as it registered 2,01,868 units during April - January 2022, compared to 1,59,480 during April - January 2021.

The three-wheeler sales also dipped by 10.09 per cent to 24,091 in January 2022 from 26,794 units in January 2021.