Logistics

Passenger vehicle sales grow 11% in January

New Delhi | Updated on February 11, 2021 Published on February 11, 2021

High steel price, container charges, unavailability of semiconductors pose challenges: SIAM

 

Sale of passenger cars declined by more than 1 per cent year-on-year (y-o-y) to 1,53,244 units in the domestic market in January compared with 1,55,046 units in the same month last year.

However, utility vehicle sales grew 37 per cent to 1,11,494 units during the month against 81,231 units in January 2020, according to the monthly report by Society of Indian Automobile Manufacturers (SIAM) on Thursday.

As a result, total passenger vehicle sales grew 11 per cent to 2,76,554 units last month compared with 2,48,840 units in the corresponding month last year.

In the two-wheeler segment, scooter sales grew 9 per cent YoY to 4,54,315 units (4,16,567 units).

Motorcycle sales grew five per cent to 9,16,365 units in January as against 8,71,886 units in the corresponding month last year, the SIAM data showed.

 

Two-wheeler sales

Overall, the two-wheeler sales grew by around seven per cent to 14,29,928 units during the month as compared with 13,41,005 units in January last year.

The total of all segments grew five per cent to 17,32,817 units in January compared with 16,50,812 units in January 2020.

“In the month of 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. As far as two-wheelers are concerned 14.30 lakh units were sold in January, which results in a de-growth of (-) 5.32 per cent CAGR from the highest sales in January 2018 of 16.85 lakh,” Rajesh Menon, Director General, SIAM, said.

Sale of three-wheelers continued to suffer a de-growth of (-) 57 per cent to 26,335 units compared to January 2020 (60,903 units), primarily on account of lower off-take of passenger three-wheelers, he said.

“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,” Menon added.

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Published on February 11, 2021
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