India's Passenger Vehicle Sales Decline 6.5 Per Cent In February 2022: SIAM

The Society of Indian Automobile Manufacturers (SIAM) has released the monthly sales data for February 2022. Last month total passenger vehicle sales in India stood at 262,984 units, which is a decline of 6.5 per cent compared to the 281,380 vehicles sold in the domestic market in February 2021. The two-wheeler segment at the same time reported total sales of 1,037,994 units in February 2022, which is a 27 per cent decline compared to 1,426,865 units sold during the same month in 2021. At the same time, total three-wheeler sales last month stood at 27,039 units, a marginal 2 per cent drop compared to 27,656 vehicles sold in February 2021. Quadricycle sales for the entire period stood at 10 units, 25 per cent more compared to the 8 quadricycles that were sold in February 2021.

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The two-wheeler segment reported total sales of 1,037,994 units in February 2022, a 27 per cent decline compared to 1,426,865 units sold last year

The combined sales from the three segments, for the month of February 2022, stood at 1,328,027 units, a decline of 23.4 per cent compared to the 1,735,909 vehicles sold during the same month last year. We must note here that these numbers do not include vehicles sold by BMW India, Mercedes-Bens India, Tata Motors and Volvo Auto.

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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. The industry is closely watching the possible impact of the ongoing conflict in Ukraine, as Global Supply Chains could come under stress."

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Passenger vehicle exports grew nearly 45 per cent at 51,213 units in February 2022

In February 2022, total vehicle exports stood at 463,025 units, witnessing almost 5 per cent growth compared to the 441,797 vehicles that were exported during the same month in 2021. Passenger vehicle exports for the period grew nearly 45 per cent at 51,213 units, while total two-wheeler exports stood at 375,689 units, a growth of 3 per cent compared to February 2021. At the same time, the three-wheeler segment exported 35,997 units in February 2022, witnessing a 12.5 per cent decline compared to 41,176 vehicles exported during the same month last year.

As for total vehicle production in February 2022, including - passenger vehicles, three-wheelers, two-wheelers and quadricycles - stood at 1,795,514 units. Compared to 2,253,241 vehicles produced in February 2021, the industry saw a decline of over 20 per cent year-on-year. While Passenger vehicles production stood at 313,042 units, two-wheeler and three-wheeler production stood at 1,418,403 units and 63,929 units, respectively. Quadricycle production for the entire period stood at 140 units.

Passenger vehicles production stood at 313,042 units

When we look at the April 2021 and February 2022 period, total vehicle sales for the last 11 months stood at 15,177,293 units, a decline of 6 per cent compared to 16,146,902 vehicles sold during the same period in FY2020-21. While passenger vehicle sales for the period stood at 2,666,109 units, the two-wheeler and three-wheeler segments reported total sales of 12,282,202 units and 228,907 units, respectively. Quadricycle sales for the entire period stood at 75 units.