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HomeAutoPassenger vehicle sales down 4% in March 2022 due to semiconductor shortage

Passenger vehicle sales down 4% in March 2022 due to semiconductor shortage

Passenger Vehicle Sales Declines: There has been a decline in the sales of passenger vehicles in the month of March. According to the data released by SIAM, an association of automobile companies, the sales of passenger vehicles in the country declined by four percent to 2,79,501 units as compared to March 2021. In March 2021, automobile companies sold 2,90,939 passenger vehicles.

According to SIAM data, there has also been a decline in two wheeler sales in March. In March 2022, the sales of T Wheeler declined by 21 percent to 11,84,210 units, while in March 2021 a total of 14,96,806 two wheelers were sold. During this period, the sales of the motorcycle declined by 21 percent from 9,93,996 units to 7,86,479 units. The sales of scooters have also come down. Sales of scooters declined by 21 per cent to 3,60,082 units as compared to 4,58,122 units sold by two wheeler makers in the same period a year ago.

However, in the entire financial year 2021-22, the total sales of passenger vehicles increased by 13 percent to 30,69,499 vehicles, from 27,11,457 vehicles in 2020-21. However, in the last financial year, the total sales of two-wheelers declined by 11 percent to 1,34,66,412 units. In the last financial year, the sales of two wheelers stood at 1,51,20,783 units.

Sales of three wheelers during the financial year increased to 2,60,995 units as against 2,19,446 units in the previous fiscal. Commercial vehicles sales increased from 5,68,559 units to 7,16,566 units. However, the total sales of vehicles across categories declined to 1,75,13,596 units during the 2021-22 financial year. The total figure of vehicle sales in 2020-21 was 1,86,20,233 units.

On these figures, SIAM President Kenichi Ayukawa said that the past year has been a big challenge for the industry. During this, the industry also got to learn a new lesson. Ayukawa said that the Indian auto industry fought fiercely against these challenges to maintain its price range. During this, the government also supported the industry through the expansion of the Production Based Incentive (PLI) Scheme, FAME Scheme.

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