Displaying a robust comeback in February, India’s passenger car (automobile, SUV, and vans) gross sales elevated 17.92% to 2,81,380 models in comparison with 238,622 models the identical month final yr, the auto trade physique Society of Indian Car Producers (SIAM) stated on Wednesday.
In keeping with the trade physique’s newest knowledge, in February 2021, whole gross sales of passenger autos, three-wheelers, two-wheelers, and quadricycles, elevated by 15.36% to 22.5 lakh models, up from 19.5 lakh in February 2020.
Two-wheeler gross sales throughout February went up by 10.2% to 14,26,865 models, whereas three-wheeler gross sales fell 33.82% through the month to 27,331 models.
Nevertheless, the entire gross sales from the April to February interval of passenger autos had been nonetheless beneath 2015-16 ranges, and for two-wheelers, it’s beneath 2014-15 ranges.
Whole manufacturing of passenger autos, three-wheelers, two-wheelers, and quadricycle in April- February 2021 fell 18.92% to 19,572,565 models as towards 24,140,891 models in April- February 2020.
Within the final 11 months, the passenger car gross sales fell by 10.35% to 2,335,808 models; three-wheeler gross sales fell by 69.77% to 184,267 models, and two-wheeler gross sales fell by 17.69% to 13,622,581 models.
“Gross sales of Three-Wheelers continued to endure a de-growth of (-)33.82%, in comparison with February 2020, totally on account of decrease off-take of Passenger Three-Wheelers. Provide chain challenges together with rising value of metal, unavailability of semi-conductors and better container costs, proceed to be obstacles in easy functioning of the trade,” Mr. Rajesh Menon, Director Common, SIAM.
In keeping with Mr. Menon, in February 2021, 2.81 lakhs passenger autos had been bought, clocking a CAGR progress of simply 3.29% over the earlier highest gross sales within the month of February, within the yr 2018 of two.55 lakhs, whereas in February 2020, the entire gross sales had been 2.39 lakhs.
So far as two-wheelers are involved, 14.27 lakh models had been bought in February 2021, which leads to a de-growth of (-) 5.41% CAGR from the earlier highest gross sales within the month of February, within the yr 2018 of 16.86 lakhs, whereas in February 2020, the gross sales of two-wheelers had been 12.95 lakhs models, Mr. Menon added.
Maruti Suzuki India (MSI), the nation’s largest carmaker, registered an 8.27% enhance in gross sales final month to 1,44,761 models.
Alternatively, Hyundai Motor India posted a 28.97% rise in dispatches final month, totaling 51,600 models.
In December 2020, the auto gross sales elevated for the primary time this fiscal yr, solely to drop once more in January 2021.
Within the third quarter of FY 20-21, India’s financial system resurfaced to progress territory, with a 0.4 % enhance in GDP.