Economy

‘PV sales skid 13% in December, up 27% in CY21’

Wholesale despatches of passenger vehicles (PVs) declined 13 per cent to 2,19,421 units year-on-year (y-o-y) in December 2021 on account of semiconductor woes, but if the calendar year performance is seen, sales grew 27 per cent to 30.82 lakh units against 24.33 lakh units in 2020.

While this growth was due to the low base of 2020 when there was a period of total lockdown, despatches above the 30-lakh unit have happened only for the third time since the Society of Indian Automobile Manufacturers (SIAM) began releasing such data.

Sales of PVs had crossed the 30-lakh mark for the first time in CY 2017 when total sales stood at 32.3 lakh units. In CY 2018, PVs were at 33.95 lakh units and fell to 29.62 lakh units in CY 2019.

Releasing the sales data for December and CY 2021 on Friday, SIAM said the chip shortage situation is not likely to improve in the short term, but expressed hope that things will improve soon.

The sales numbers in October-December quarter were also not as per expectations for most of the industry players as the festival season sales were very weak. Sales across categories decreased by 22 per cent during the third quarter.

“If we look at the third quarter figures, passenger vehicle sales were the lowest in the last five years while the two-wheeler sales were the lowest in the last nine years. Similarly, commercial

vehicle sales were the lowest in the last five years. Three-wheeler segment is the worst-impacted, with sales lowest in the last 13 years,” SIAM president Kenichi Ayukawa said.

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