Higher cost, supply side constraints dent February auto sales
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Higher cost along with supply side constraints, impacted India's domestic auto sector sales in February 2022 on a year-on-year basis.
Accordingly, the sector's February off-take of passenger cars, two-and-three wheelers were lower on a YoY basis.
In terms of PVs, challenges pertaining to electronic components' availability lowered production and pulled sales down.
The shortage has extended waiting periods and escalated prices.
The industry was only able to produce 1,70,428 units of passenger cars in February 2022 from 1,81,247 units made in the corresponding period of the previous year.
The data furnished by the Society of Indian Automobile Manufacturers (SIAM) does not include figures from some key players such as Tata Motors.
Consequently, sales of passenger vehicles fell to 2,38,622 units in February as compared to 2,81,380 units sold during the corresponding month of 2021.
Segment-wise, a total of 1,48,541 passenger cars were sold in the domestic market in February, down from 1,55,128 units sold in the like period of 2021.
The sales of other sub-categories such as utility vehicles (UV) grew whereas vans' de-grew on a year-on-year basis.
As per the data, UV sales stood at 78,674 units from 1,14,350 units, on the other hand, the off-take of vans declined to 11,407 units from 11,902 units in the year-ago period.
