Passenger vehicle sales in India up 11% in January: SIAM

Passenger vehicle wholesales in India increased by 11.14 per cent to 2,76,554 units last month as compared with same month last year amid supply chain challenges, unavailability of semiconductors and higher container charges, auto industry body SIAM said on Thursday.

Passenger vehicle sales in January 2020 stood at 2,48,840 units.

As per the latest data by Society of Indian Automobile Manufacturers (SIAM), two-wheeler dispatches to dealers also rose 6.63 per cent to 14,29,928 units, compared to 13,41,005 units in January 2020.

Motorcycle sales increased 5.1 per cent to 9,16,365 units as against 8,71,886 in January 2020.

Scooter sales were also up 9.06 per cent at 4,54,315 units from 4,16,567 units a year ago.

Three-wheeler sales, however, declined by 56.76 per cent to 26,335 units as compared with ₹60,903 units in January last year.

Vehicle sales across categories rose by 4.97 per cent to 17,32,817 units last month as against 16,50,812 units in the year ago period.

Commenting on the sales data, SIAM Director General Rajesh Menon said, "In January 2.77 lakh passenger vehicles were sold, clocking a CAGR growth of just 1.61 per cent over the previous highest sales in January 2018 of 2.64 lakh units."

As far as two-wheeler sales are concerned 14.30 lakh units were sold last month, a de-growth of 5.32 per cent compound annual growth rate (CAGR) from the highest sales in January 2018 of 16.85 lakh units, he added.

"The total PV sales from April to January period were still below 2014-15 levels and for two-wheelers it is below 2013-14 levels," Menon said.

Besides, three-wheeler sales suffered a de-growth of 56.76 per cent last month, compared to the year-ago period, primarily on account of lower off-take of passenger three-wheelers, he added.

"Supply chain challenges including rising price of steel, unavailability of semiconductors and higher container charges, continue to be obstacles in smooth functioning of the industry," Menon noted.