Passenger vehicle sales in India skid 6% YoY in Feb: SIAM data

Passenger vehicle wholesales in India fell 6.54% year-on-year (YoY) in February 2022, auto industry body Society of Indian Automobile Manufacturers (SIAM) said on Friday.

Passenger vehicle sales last month stood at 262,984 units, as compared to 281,380 units sold in the corresponding period last year.

As per the latest data by SIAM, two-wheeler domestic sales in February 2022 were at 10,37,994 units compared with 14,26,865 units sold in February 2021, registering a decline of 27.2% year-on-year.

Meanwhile, three-wheeler sales in February 2022 stood at 27,039 as against 27,656, declining 2.2% year-on-year.

Commenting on February 2022 sales data, Rajesh Menon, Director General, SIAM said, Sales in the month of February 2022 has declined compared to February 2021, across Passenger Vehicle, Two-Wheeler and Three-Wheeler categories. Continuing supply side challenges like Semiconductor shortages, increase in cost due to new regulations, higher commodity prices, higher logistics cost etc. have impacted overall sales in the auto industry. Industry is closely watching the possible impact of the on-going conflict in Ukraine, as Global Supply Chains could come under stress.

The Nifty Auto index fell 0.4% at 9,979.70 on Friday. The auto index has declined 13.62% in last one month as compared to a 4.28% fall in Nifty 50 index.

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