Auto Sales: Last month, the wholesale sales of cars declined due to chip shortage. The business of the country’s largest car company was also affected.
Auto Sales: Last month in January 2022, the sales of the auto sector were affected due to the shortage of chips. Due to this shortage, fewer vehicles reached not only on the roads, but also from factories to dealers. According to the auto industry body SIAM (SIAM), the wholesale sales of passenger vehicles fell by 8 percent in January. According to the data released today (11 February 2022), there was a wholesale sale of 2,54,287 passenger vehicles in the last month, while in the same month last year, 2,76,554 passenger vehicles left the factories and reached the dealers.
The sales of the country’s largest car company Maruti Suzuki India also declined last month and the business of Hyundai Motor India was also affected by the chip shortage. According to Rajesh Menon, GM of SIAM (Society of Indian Automobile Manufacturers), wholesale sales of vehicles were affected last month due to the shortage of chips in addition to the Omicron variant of Corona.
Utility vehicle sales up
Car wholesale sales declined from 1,53,244 units in January last month to 1,26,693 units and vans wholesales declined to 10,632 units from 11,816 units on a year-on-year basis. However, utility vehicle sales increased and 1,16,962 vehicles reached dealers in January this year as against 1,11,494 units in January 2021. Talking about the country’s largest car company, its wholesale sales declined from 1,39,002 units to 1,28,924 units. The wholesale sales of Hyundai Motor India also declined to 44,022 units from 52,005 units. Last month, a total of 14,06,672 vehicles reached the dealers, whereas a year ago 17,33,276 units were removed from the factories and reached the dealers.
Decline in wholesale sales of two wheelers and three wheelers
According to the auto industry body SIAM, the wholesale sales of two-wheelers and three-wheelers also declined last month. In the first month of 2022 this year, only 11,28,293 vehicles reached the dealers, compared to 14,29,928 units in January 2021 last year. 21 percent less than the Similarl