Report Wire - ‘PV sales skid 13% in December, up 27% in CY21’

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‘PV sales skid 13% in December, up 27% in CY21’

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passenger vehicles (PVs), PV sales, passenger vehicles sales, Society of Indian Automobile Manufacturers SIAM, Business news, Indian express business news, Indian express, Indian express news, Current Affairs

Wholesale despatches of passenger autos (PVs) declined 13 per cent to 2,19,421 models year-on-year (y-o-y) in December 2021 on account of semiconductor woes, but when the calendar yr efficiency is seen, gross sales grew 27 per cent to 30.82 lakh models in opposition to 24.33 lakh models in 2020.
While this progress was as a result of low base of 2020 when there was a interval of whole lockdown, despatches above the 30-lakh unit have occurred just for the third time for the reason that Society of Indian Automobile Manufacturers (SIAM) started releasing such knowledge.
Sales of PVs had crossed the 30-lakh mark for the primary time in CY 2017 when whole gross sales stood at 32.3 lakh models. In CY 2018, PVs have been at 33.95 lakh models and fell to 29.62 lakh models in CY 2019.
Releasing the gross sales knowledge for December and CY 2021 on Friday, SIAM stated the chip scarcity state of affairs isn’t possible to enhance within the brief time period, however expressed hope that issues will enhance quickly.

The gross sales numbers in October-December quarter have been additionally not as per expectations for many of the trade gamers because the pageant season gross sales have been very weak. Sales throughout classes decreased by 22 per cent in the course of the third quarter.
“If we have a look at the third quarter figures, passenger car gross sales have been the bottom within the final 5 years whereas the two-wheeler gross sales have been the bottom within the final 9 years. Similarly, industrial
car gross sales have been the bottom within the final 5 years. Three-wheeler phase is the worst-impacted, with gross sales lowest within the final 13 years,” SIAM president Kenichi Ayukawa stated.  FE