Passenger vehicle sales rose for the third straight month, albeit at a slower pace, amid persisting supply-side concerns.
The segment, comprising passenger cars, utility vehicles and vans, sold 2.62 lakh units in February, a 3.42% increase over the previous month, according to data released by the Society of Indian Automobile Manufacturers. The sales, however, fell 6.53% year-on-year.
Two-wheeler sales fell 8% over the previous month and over 27% year-on-year to 10.37 lakh units.
Continuing supply-side challenges such as semiconductor shortages, increase in cost due to new regulations, higher commodity prices and higher logistics cost, among others, have impacted the overall sales in the auto industry, SIAM's Director General Rajesh Menon said.
The industry, he said, is closely watching the possible impact of the ongoing conflict in Ukraine as global supply chains could come under stress.
SIAM's February 2022 Volumes (MoM)
Car sales rose 5.43% to 1,33,527 units.
Wholesales of utility vehicles rose 2.70% to 1,20,122 units.
Scooter sales fell 1.31% to 3,44,137 units.
Motorcycle sales fell 11.53% to 6,58,009 units.
Three-wheeler sales rose 12.24% to 27,039 units.
Essential Business Intelligence, Continuous LIVE TV, Sharp Market Insights, Practical Personal Finance Advice and Latest Stories — On NDTV Profit.
