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Huge drop in wholesale sales of passenger vehicles in March

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Passenger vehicle sales declined in March. According to a SIAM report, the wholesale sales of passenger vehicles declined by about 4 per cent in March. Auto industry body SIAM released the report on Wednesday.

Wholesale sales of passenger vehicles declined in March. The Automobile Industry Association (SIAM) on Wednesday said the wholesale sales of passenger vehicles in India fell nearly 4 per cent last month to 2,79,501 units, from 2,90,939 units in March 2021.

21 percent drop in two-wheeler sales
Two-wheeler sales also fell 21 per cent to 11,84,210 units from 14,96,806 units in March 2021, according to the latest data from the Society of Indian Automobile Manufacturers (SIAM). Motorcycle sales fell 21 per cent to 7,86,479 units as against 9,93,996 units in March 2021.

impact on scooter sales
At the same time, when it comes to scooter sales, it was 4,58,122 units a year ago, which declined by 21 percent to 3,60,082 units. Total PV wholesale sales grew by 13% to 30,69,499 units in FY 2021-22 as against 27,11,457 units in FY2021-21. However, total dispatch of two-wheelers declined by 11% to 1,34,66,412 units in the last fiscal as against 1,51,20,783 units in 2020-21.

low selling three wheelers
Three-wheeler sales increased to 2,60,995 units in the last fiscal as against 2,19,446 units in FY21. Similarly, the total sales of commercial vehicles also increased to 7,16,566 units in the last fiscal from 5,68,559 units in 2020-21. However, overall sales declined to 1,75,13,596 units in 2021-22 as compared to 1,86,20,233 units in 2020-21.

Siamese President said
SIAM President Kenichi Ayukawa said last year was full of unexpected challenges and new learnings for the industry. The Indian auto industry has worked hard to meet these challenges by investing in new technologies and increasing exports. The government has also come out with targeted support like PLI schemes, FAME scheme extension etc.

Elaborating on the sales performance, he said that despite some recovery from the low base, all the four segments of the auto industry are still below 2018-19 levels.

There has been a decline in sales in the two-wheeler segment this year
At the same time, SIAM Director General Rajesh Mann said that the auto industry has seen a decline of 6 per cent in FY22. He said that all the segments are facing supply side challenges. The industry has not yet fully recovered. Passenger vehicles, commercial vehicles and three wheelers have seen growth as compared to 2020-21, but the two wheeler segment has seen a decline of 11 per cent over the previous year.

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