Passenger vehicle wholesales down 27% in October amid chip

Passenger vehicle wholesales down 27% in October amid chip

Auto industry body SIAM on Friday said wholesale sales of passenger vehicles in India declined by 27 per cent year-on-year in October, as semiconductor shortage hit automobile manufacturers’ output.

Passenger vehicle sales last month stood at 2,26,353 units as against 3,10,694 units in the year-ago period.

According to the latest data by Society of Indian Automobile Manufacturers (SIAM), deliveries of two-wheelers to dealers also witnessed a decline of 25 per cent at 15,41,621 units as compared to 20,53,814 units in October 2020.

Motorcycle dispatches also declined by 26 per cent to 10,17,874 units last month as against 13,82,749 units in the year-ago period.

SIAM said scooter sales fell 21 per cent to 4,67,161 units from 5,90,507 units in the same month a year ago.

Last month, vehicle sales across passenger vehicles, three-wheelers, two-wheelers and quadricycle categories declined 25 per cent to 17,99,750 units from 23,91,192 units in October 2020.

“Manufacturers were banking on the festive season to recover from a sharp drop in sales in the early part of the financial year 2021-22. However, the shortage of semiconductors and steep rise in raw material cost is playing a major spoilsport to the industry. ,” said Rajesh Menon, director general of SIAM.

Last month, the total production of passenger vehicles, three-wheelers, two-wheelers and quadricycles stood at 22,14,745 units, down 22 per cent from 28,30,844 units in October 2020.

(Only the title and image of this report may have been reworked by Business Standard staff; the rest of the content is generated automatically from a syndicated feed.)

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