Auto Sales May 2021: Passenger Vehicle Segment Registers Triple-Digit YoY Growth In Volumes, MoM Sal

According to the latest sales report published by the Society of Indian Automobile Manufacturer (SIAM), the passenger vehicle segment has recorded a sales growth of 162.46 per cent selling 88,045 units in May 2021 as compared to 33,546 units sold in the same month last year. That said, on Month-on-Month (MoM) basis the PV segment has recorded a slump of 66.35 per cent as it sold 2,61,663 units in April 2021. Wholesale in May took a severe hit as dispatches were heavily impacted as several states were under partial lockdown for the entire month.

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On YoY basis, the passenger car segment has recorded a growth of 187.24 per cent selling 41,536 units last month as compared to 14,460 units sold in the same month a year ago. The lucrative utility vehicle (UV) segment outperformed the passenger car segment selling 45,158 units last month as compared to 17,347 per cent witnessing a growth of 160.32 per cent. On the other hand, Vans segment recorded a sales decline of 22.31 per cent last month selling 1,351 units as compared to 1,739 units sold in the same month last year.

The two-wheeler segment recorded a growth of 26.11 per cent.

The two-wheeler segment recorded a growth of 26.11 per cent selling 3,52,717 units last month as compared to 2,79,682 units sold in the same month last year. While on MoM basis, the two-wheeler segment went down by 64.55 per cent as it sold 9,95,097 units in the previous month. The three-wheeler segment on the other hand recorded a slump of 48.66 per cent selling 1,251 units as compared to 2,437 units sold in the same month a year ago. On MoM basis, three-wheeler sales went down by a whopping 90.88 per cent as 13,728 units were sold in April 2021. Overall, the auto industry recorded a growth of 40.03 per cent selling 4,42,013 units in May 2021 as compared to 315,638 units sold in the same month a year ago. Again on MoM basis, the drop in overall sales stood at 65.20 per cent as 12,70,458 units were wholesaled in April 2021.

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The massive sales growth is primarily attributed to a low base last year.

The humongous growth in YoY sales is primarily attributed to a low base last year. Now lockdown was imposed even this year in some of the key states of India but it was a partial lockdown and sales were happening to an extent in areas and states where there were no such restrictions. Comparatively, last year the entire nation was under a complete lockdown for over half of May leading to zero sales in those days. That said, the three-wheeler segment has continued to record negative growth because the shared mobility segment has still not revived as people continue to maintain social distancing and the COVID-19 crisis continues to take a toll on this segment. Same goes with the Vans category as most of the models in this segment are primarily used for commercial purposes.