Passenger vehicle retail sales drop 10% in January: FADA
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The Federation of Automobile Dealers Associations (FADA) in its latest data has said that passenger vehicle retail sales dropped to 2,58,329 units in January 2022, down 10.12 per cent from 2,87,424 units in January 2021, as the companies continued to suffer production loss amid semiconductor shortage. It said in spite of good demand, passenger vehicles continue to face the brunt of semiconductor shortage, resulting in the absence of a healthy inventory.
According to the data, Two-wheeler sales in January 2022 declined by 13.44 per cent to 10,17,785 units, compared to 11,75,832 units in January 2021. It said rural distress coupled with price rise and omicron wave led to a drop in the sales in the segment. Tractor sales stood at 55,421 units in January 2022, down 9.86 per cent from 61,485 units in January 2021. Three-wheeler retail sales also grew by 29.8 per cent to 40,449 units in January 2022 as compared to 31,162 units a year ago.
However, it said commercial vehicle sales witnessed a growth of 20.52 per cent in January 2022 at 67,763 units, as against 56,227 units in the year-ago month. With the revival in the economy, the commercial vehicle segment continues to show year-on-year growth, especially in the HCV category. With increased infrastructure spending by the central as well as state governments, the overall CV segment remains in momentum.
