Passenger vehicle sales down 27% YoY: Siam

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Sales of passenger vehicles in India declined by 27% YoY in October with semiconductor shortage hitting the production of automobile manufacturers, according to auto industry body Society of Indian Automobile Manufacturers (Siam) on Friday.

Last month, passenger vehicle sales were at 2,26,353 units as against 3,10,694 units in the year-ago period.

Scooter sales down 21%

The latest data from Siam said that two-wheeler dispatches to dealers also saw a 25% decline at 15,41,621 as against 20,53,814 units in October 2020.

As compared to the year-ago period, motorcycle dispatches were also down by 26% to 10,17,874 units as compared to 13,82,749 units.

Siam said that scooter sales slipped 21% to 4,67,161 units from 5,90,507 units in the year ago month. Auto sales across passenger vehicles, three-wheelers, two-wheelers and quadricycles categories last month, slipped by 25% to 17,99,750 units, from 23,91,192 units in October 2020.

Manufacturers were banking on the festive season to recover from the severe drop in sales they have faced in the early part of the financial year 2021-22. However, semiconductor shortage and a steep hike in raw material cost have been a major spoilsport for the industry.

The total production of passenger vehicles, three-wheelers, two-wheelers and quadricycles was at 22,14,745 units down by 22% from 28,30,844 units in October 2020.