Passenger vehicle sales in July hit the fast lane, but sales way behind the 2016-17 level
- IBJ Bureau
- Aug 12, 2021
Passenger vehicle sales jumped to 2.64 lakh units in July compared to 1.82 lakh units in the same period last year. Three-wheeler segment also saw a rise in sales during this month, while sales of two-wheelers slid marginally, according to a media release of the Society of Indian Auto Manufacturers (SIAM).
Two-wheeler sales fell to 12.53 lakh units in July this year as against 12.81 lakh units sold in the same period last year. Three-wheeler sales went up to 17,888 units in July this year compared to 12,728 units last year. With this, sales across three segments went up to 15.36 lakh in July 2021 against 14.76 lakh in July 2020.
In the April-July period, domestic passenger vehicle sales stood at 9.10 lakh units. Three-wheeler sales numbered 42,264 units and two-wheeler sales stood at 36.57 lakh units.
SIAM stated that though there was recovery in the passenger vehicles segment sales, they were still less than that of the 2016-17 level. Two-wheeler sales were lower than the sales of the 2010-11 level, whereas the three-wheeler segment had gone back by many years, the auto industry body noted in its official release.
“Indian automobile industry continues to face heavy headwinds in the form of global semiconductor shortage and steep rise in commodity prices. On the one hand, the industry is managing such supply chain challenges while ensuring safety of its people, and on the other hand, industry is also keeping a close eye on the onset of a third wave in India and across the world,” SIAM Director General Rajesh Menon said.
The auto industry body said that the industry was trying to maximise production and sales in the midst of an uncertain and challenging business environment.