Passenger car gross sales in India declined by over two per cent within the 2020-21 fiscal because the COVID-19 pandemic has put brakes on the sector which has already been witnessing a structural slowdown over the previous couple of years, trade physique SIAM mentioned on Monday.
As per the most recent knowledge by the Society of Indian Automobile Manufacturers (SIAM), within the 2020-21 fiscal, passenger car wholesales declined by 2.24 per cent to 27,11,457 models as in opposition to 27,73,519 models in 2019-20.
Similarly, complete two-wheeler dispatches over the past fiscal by firms to their respective supplier companions declined by 13.19 per cent to 1,51,19,387 models, as in comparison with 1,74,16,432 models in 2019-20.
Total business autos gross sales declined by 20.77 per cent to five,68,559 models final monetary 12 months, as in opposition to 7,17,593 models in 2019-20.
Dispatches of three-wheelers noticed a drop of 66.06 per cent within the 2020-21 fiscal at 2,16,197 models, as in opposition to 6,37,065 models in 2019-20.
Vehicle gross sales throughout classes declined by 13.6 per cent to 1,86,15,588 models, as in opposition to 2,15,45,551 models within the year-ago interval.
“On the sales front, a deep structural slowdown in the industry even before the pandemic, combined with the impact of COVID-19 in 2020-21, has pushed all vehicle segments back by many years. Recovery from here will require time and efforts, by all stakeholders,” SIAM President Kenichi Ayukawa mentioned.
There is uncertainty within the worth chain owing to semiconductors, lockdowns and uncooked supplies, he added.
“In an environment of uncertainty, instead of trying to predict the future, we will all work hard to create it,” Ayukawa famous.
SIAM has cited knowledge up to now to indicate that the pandemic is just not the one purpose for the auto sector slowdown, which is going through deeper structural points that want consideration.
According to the findings of a analysis performed by the trade physique, compounded annual progress charges of all segments, together with passenger autos, business autos, three-wheelers and two-wheelers have witnessed a steady drop over the past three a long time.
Elaborating additional SIAM Director General, Rajesh Menon mentioned within the final fiscal there was a de-growth in gross sales of all segments in comparison with the earlier years.
“If we look at the fourth quarter January-March 2021 sales which might include some deferred sales from previous quarters, only passenger vehicle segment at 9.34 lakh sales was marginally above the previous high of January-March 2018 period at 8.62 lakh units,” Menon added.
Commercial autos gross sales at 2.1 lakh in January-March interval of 2021 had been beneath 2.82 lakh in January-March interval of 2018, Menon famous.
“Similarly, two-wheeler sales in January-March 2021 stood at 43.54 lakh against January-March 2018 figures of 51.13 lakh units. Three-wheeler segment was the worst-hit with sales of 86,000 units in the period under review as compared to 1.97 lakh in January-March 2018,” Menon mentioned.
In March, home passenger car wholesales in India elevated to 2,90,939 models in March as in comparison with the identical month final 12 months which noticed disruptions as a result of COVID-19-led lockdown.
Passenger car gross sales in March 2020 stood at 1,35,196 models. Similarly, two-wheeler dispatches to sellers rose to 14,96,806 models, in comparison with 8,66,845 models in March 2020, SIAM mentioned.
Motorcycle gross sales elevated to 9,93,996 models as in opposition to 5,70,858 in March 2020.
Similarly, scooter gross sales had been additionally as much as 4,57,677 models, from 2,63,070 models a 12 months in the past.
Three-wheeler gross sales elevated to 31,930 models, as in comparison with 27,608 models in March final 12 months.
Vehicle gross sales throughout classes rose to 18,19,682 models final month, as in opposition to 10,29,518 models within the year-ago interval.