Passenger vehicle sales increase 17.92% in February: SIAM
Passenger vehicles sales grew 17.92 per cent in February at 281,380 units compared to 238,622 units produced in February 2020
Auto Industry proved to be one of the quickest recoverable industries from the losses caused due to the pandemic. This has been proved with the sales numbers which came out on Wednesday by the Society of Indian Automobile Manufacturers (SIAM).
According to SIAM, passenger vehicle sales in India increased 17.92% to 2,81,380 units in February as compared with the same month last year. PV wholesale numbers in February last year were 2,38,622 units. This is a great relief to automakers and this will keep the positive sentiments active.
The latest data released by SIAM which shows the sales of two-wheeler to dealers rose 10.2% to 14,26,865 units, as compared to 12,94,787 units in February 2020.
Motorcycle sales during the last month increased 11.47% to 9,10,323 units as against 8,16,679 in February 2020. Scooter sales were also up 10.9% at 4,64,744 units from 4,22,168 units a year ago.
There has been a decline in three-wheeler segment sales by 33.82% to 27,331 units as compared with 41,300 units in February last year. This segment would struggle for some more time. For the three-wheeler to comeback on the positive side, it seems the economy needs to be on track.
Vehicle sales across categories rose by 10.21% to 17,35,584 units last month as against 15,74,764 units in the year-ago period.
Commenting on the sales data, SIAM Director General Rajesh Menon said total sales of passenger vehicles from the April-February period was still below 2015-16 levels and for two-wheelers, it is below 2014-15 levels.
“Supply chain challenges including the rising price of steel, unavailability of semiconductors and higher container charges, continue to be obstacles in the smooth functioning of the industry,” he noted.
In February, the country’s largest carmaker Maruti Suzuki India (MSI) reported sales of 1,44,761 units, up 8.27 per cent from the same month last year. Rival Hyundai Motor India on the other hand reported an increase of 28.97 per in its dispatches at 51,600 units last month.