News APP

NewsApp (Free)

Read news as it happens
Download NewsApp

Available on  gplay

This article was first published 2 years ago
Home  » Business » As chip woes continue, passenger vehicle sales dip 8% in January

As chip woes continue, passenger vehicle sales dip 8% in January

Source: PTI
Last updated on: February 11, 2022 16:41 IST
Get Rediff News in your Inbox:

Passenger vehicle dispatches from factories to dealers in India fell 8 per cent in January, mainly due to semiconductor shortage, auto industry body SIAM said on Friday.

The total passenger vehicle wholesales dropped to 254,287 units in January 2022 as compared to 276,554 units in the same month of last year.

Last month, passenger car dispatches stood at 126,693 units as compared to 153,244 units in the year-ago period. Similarly, van dispatches declined to 10,632 units in the period under review from 11,816 units in January 2021.

Utility vehicle sales, however, increased to 116,962 units last month as compared to 111,494 units in January 2021.

Total two wheeler dispatches declined 21 per cent to 11,28,293 units from 14,29,928 units in the year-ago period.

Similarly, three wheeler wholesales dropped to 24,091 units last month as against 26,794 units in January 2021.

Total dispatches last month fell to 14,06,672 units as compared to 17,33,276 units in the same month last year.

"Sales in January 2022 again declined compared to January 2021, due to both Omicron-related concerns and semiconductor shortage.

"There is clearly a demand issue for two-wheelers due to lower rural off-take of entry level models," Society of Indian Automobile Manufacturers (SIAM) director general Rajesh Menon said.

On the other hand, the passenger vehicle segment is unable to meet the market demand due to supply side challenges, he added.

"Three wheelers continue to be severely affected due to lower sales," Menon said.

Last month the country's largest carmaker Maruti Suzuki dispatched 128,924 units as compared to 139,002 units in January 2021.

Hyundai Motor India witnessed its dispatches decline to 44,022 units last month as against 52,005 units in January last year.

Photograph: PTI Photo

Get Rediff News in your Inbox:
Source: PTI© Copyright 2024 PTI. All rights reserved. Republication or redistribution of PTI content, including by framing or similar means, is expressly prohibited without the prior written consent.
 

Moneywiz Live!