Indian Auto Sector Sees Overall Growth Of 4% In July 2021; PV Sales Grew 45% YoY

The Society Of Indian Automobile Manufacturers, or SIAM India, has released the monthly sales data for July 2021. Last month, the auto sector witnessed an overall year-on-year (YoY) growth of 4 per cent, selling 15,36,269 vehicles, as against 14,76,861 units sold in July 2020. However, compared to the 17,57,632 units sold during the pre-COVID period of July 2019, the industry witnessed a decline of nearly 13 per cent. The passenger vehicle segment, however, accounted for 2,64,442 units in July 2021, registering a 45 per cent growth as against 1,82,779 units sold in July 2020.

While this is certainly encouraging, we have to consider the fact the both in July 2020 and July 2021 there was some amount of disruption due to the COVID-19 pandemic and its resultant lockdowns and restrictions. Given the fact that the situation was not ideal during both months, it won't be right to compare these numbers. To give you a realistic figure, compared to 12,96,807 units sold in June 2021, the industry witnessed a month-on-month (MoM) growth of 18 per cent in July 2021. Similarly, compared to 231,633 passenger vehicles sold in June 2021, the segment witnessed a decent MoM growth of 14 per cent in July 2021.

Compared to 231,633 passenger vehicles sold in June 2021, the segment witnessed a decent MoM growth of 14 per cent in July 2021

In July 2021, the industry's total two-wheeler sales stood at 12,53,937 units, witnessing a marginal decline of 2 per cent compared to 12,81,354 vehicles sold during the same month in 2020. Compared to 15,11,717 two-wheelers sold in July 2019, the segment saw a decline of nearly 21 per cent, however, as against 10,55,777 units sold in June 2021, the segment saw a MoM growth of 19 per cent. Interestingly, electric two-wheeler sales stood at 1,270 compared to mere 143 units that were sold in July 2020.

In July 2021, the industry's total two-wheeler sales stood at 12,53,937 units, witnessing a marginal decline of 2 per cent

Total three-wheeler sales for July 2021 stood at 17,888 units, which is a massive 40 per cent growth compared to 12,728 sold during the same month last year. However, against the 55,710 units sold in July 2019, the segment witnessed a massive decline of 68 per cent. At the same time, compared to 9,397 units sold in June 2021, the segment saw a MoM growth of 90 per cent.

Compared to 9,397 thee-wheelers sold in June 2021, the segment saw a MoM growth of 90 per cent in July 2021

Total vehicle production in July 2021 stood at 20,99,035 units, witnessing a 22 per cent growth compared to 17,15,514 vehicles produced in July 2020. Last month, total passenger vehicle production stood at 3,33,369 units, two-wheeler production stood at 17,02,100 units, three-wheelers production stood at 63,164 units, and Quadricycle at 402 units.