August 13, 2021

More Indians Bought Passenger Vehicles In July: Report

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NEW DELHI – A new report by the national apex body representing all primary vehicle and vehicular engines in India, the Society of Indian Automobile Manufacturers (SIAM), said that passenger vehicles sales had seen a rise in July in India.

The report states that passenger vehicle sales totaled 264,000 units in July as compared to 182,000 units in the same month of 2020 and 190,000 in the year before.

“However, three-wheeler sales were 17,888 units in July this year as compared to 12,728 in July last year, and 55,719 in July 2019,” the Society of Indian Automobile Manufacturers report states.

Two-wheeler sales also saw a minimal dip. A total of 1.25 million units were sold in July 2021 in comparison with 1.28 million in July 2020. But it was more than the 1.51 million two-wheelers sold in July 2019.

“That took overall domestic sales of all categories to 1.53 million in July 2021 versus 1.47 million in the same month of last year and 1.75 million in July 2019,” the report said.

Society of Indian Automobile Manufacturers Director-General Rajesh Menon said the automobile industry continues to face heavy headwinds in the form of global semiconductor shortage and steep rise in commodity prices.

“On one hand, the industry is managing such supply chain challenges while ensuring the safety of its people,” Menon said. “On the other hand, the industry is keeping a close eye on the onset of the third wave in India and across the world. Amid such a challenging and uncertain business environment, the industry is trying to maximize production and sales.”

“Indian automobile industry is facing headwinds like steep increase in semi-conductor prices, and fear of the third wave,” the Society of Indian Automobile Manufacturers tweeted

“In the first quarter [April-June], Indian automobile industry came forward to support the government in its fight against Covid-19 second wave,” Kenichi Ayukawa, president, Society of Indian Automobile Manufacturers, earlier said about the June 2021 and 2021 -22 first-quarter (April-June) data.

“Many original equipment manufacturers shut down their plants to make oxygen available for medical purposes. They also contributed towards augmenting oxygen supply to hospitals, supporting health care facilities, and helping local communities. Due to various lockdowns, many dealers could not operate, leading to subdued sales. “

Sometime back, another report showed the Indian automobile industry is looking better.

Compared to July 2020, automobile registrations across India rose by 34 percent in July 2021, with vehicles for passengers showing a hike of 63 percent, the Federation of Automobile Dealers Association said on Aug. 9.

The Federation of Automobile Dealers Association is a national apex body representing automobile dealers of India.

(With inputs from ANI)

Edited by Amrita Das and Praveen Pramod Tewari



The post More Indians Bought Passenger Vehicles In July: Report appeared first on Zenger News.

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