The passenger vehicle (PV) segment has managed to record a healthy double-digit growth of 26.66 per cent in 2021 despite several headwinds like the semiconductor shortage issue and partial lockdown when the second wave of COVID-19 struck. According to the latest sales data published by the Society of Indian Automobile Manuafacturers (SIAM), in the January - December 2021 period 30,82,421 units of passenger vehicles were sold as compared to 24,33,473 units sold last year. The passenger car segment recorded a growth of 7.7 per cent selling 15,43,530 units as compared to 14,32,303 units sold a year ago. The Utility Vehicle (SUVs + MPVs) segment remained at the helm recording a whopping growth of 58.19 per cent selling 14,19,649 units as compared to 8,97,416 units sold last year. Even the Vans segment recorded an uptick of 14.92 per cent selling 1,19,242 units as against 1,03,754 units sold a year ago. That said, a low volume base last year owing to a three-month long nationwide lockdown should also be taken into account, attributing to the sales growth this year. Sales in Q1 of CY2020 was disrupted due to the aftershocks of a prolonged slowdown and then nation went into a lockdown in Q2 of CY2020.
SUVs recorded highest volume growth in 2021.
The commercial vehicle (CV) segment too witnessed a surge of 34.05 per cent selling 6,77,119 units as compared to 5,05,102 units sold a year ago. Sales to two-wheelers almost remained flat at 1.3 per cent selling 1,44,69,514 units in 2021 as compared to 1,42,69821 units sold in the previous year. Even growth in the three-wheeler segment remained flat at 0.33 per cent selling 2,63,373 units as compared to 2,62,497 units sold a year ago The three-wheeler segment has been witnessing humble sales since the begging of the COVID-19 crisis as people tend to avoid last mile shared mobility and public transport in metro cities are operating at half capacity. Lastly, only 79 units of quadracycle vehicles were sold in 2021. Overall, the auto sector managed to record a humble growth of 5.84 per cent in 2021 selling 1,84,92,506 units as against 1,74,70,854 units sold a year ago.
Sales of two-wheelers remained flat in 2021 and witnessed a massive decline in Q3 of FY2022.
Coming to December 2021 sales, the PV segment recorded a sales decline of 13.27 per cent as volume degraded taking a hit from the semiconductor issue which led to a negative sentiment among buyers over the last quarter as deliveries of some volume generating models got delayed. In general, sales in the last month of the year are low as people prefer buying new model year vehicles and dealerships in metro cities witnessed low footfalls in the last weeks of December given the spread of the Omicron variant of COVID-19.2,19,421 units of passenger vehicles were sold in December 2021 as compared to 2,52,998 units which were sold a year ago. Sales in all three sub-segments, passenger cars, UVs and Vans declined. Even the two-wheeler segment witnessed a de-growth of 10.80 per cent last month selling 10,06,062 units as compared to 11,27,917 units sold a year ago.
Three-wheeler sales picked-up in Q3 of FY2022.
Speaking of quarterly performance, PV sales in Q3 of FY2022 slumped by 15.23 per cent selling 7,61,124 units as compared to 8,97,908 units sold a year ago and just like December, all sub-segments witnessed decline in the last quarter. The two-wheeler segment took a massive hit of 70.42 per cent in Q3 selling 10,64,270 units as compared to 35,98,299 units sold a year ago. CV sales remained flat at 0.86 per cent selling 1,94,712 units as compared to 1,93,034 units. However, sales of three-wheelers went up by 12.46 per cent selling 82,356 units as compared to 73,231 units sold a year ago and only 58 units of quadricycles were sold in the last quarter. Overall, sales plunged by 22.02 per cent selling 46,36,549 units in Q3 of FY2022 as compared to 59,46,283 units sold in the same period a year ago.
