Automobile dispatches fall by 23% in Feb as supply-side woes continues: SIAM
Dispatches of automobiles from factories decreased by 23 per cent across India in February. Reasons behind this decline are being stated as supply-side challenges, the ongoing semiconductor shortage and an increase in the price of vehicles due to the implementation of new regulations that impacted the demand scene, informed industry body Society of Indian Automobile Manufacturers (SIAM).
The wholesales of domestic passenger vehicles, two-wheelers and three-wheelers came down from 17,35,909 units in February 2021 to 13,28,027 in 2022 while the overall, passenger vehicle dispatches plummeted by 6 per cent that is to 2,62,984 units from 2,81,380 units in the same month of last year. Wholesales of passenger cars stood at 1,33,572 units last month compared to 1,55,128 units in February 2021 whereas the number of utility vehicle dispatches increased to 1,20,122 units as against 1,14,350 units in the same period of the preceding year. Sales of vans fell to 9,290 units compared to 11,902 units in February 2021.
The total wholesale of two-wheelers dipped by 27 per cent that is to 10,37,994 units against 14,26,865 units in the same month last year. The number of scooters that were sold last month stood at 3,44,137 units last month, against 4,65,097 units in the same period in 2021. Sales of motorcycle sales also declined to 6,58,009 units last month as against 9,10,323 units in February 2021. Sales of three-wheelers too registered a decline marginally to 27,039 units last month as compared with 27,656 units in February 2021.
Society of Indian Automobile Manufacturers (SIAM) Director-General Rajesh Menon said the semiconductor shortage and increased price of vehicles have impacted the overall health of the auto sector. The industry is monitoring the possible impact of the ongoing Russia-Ukraine conflict, as global supply chains could come under stress, he added.
(With inputs from PTI)