Covid-induced economic volatility contracted the demand for domestic passenger vehicles in May 2021 from May 2019 levels.However, base effect along with low interest rates and some pent-up demand showed an accelerated rise in domestic demand in .
In a statement, the SIAM said that TVS Motor sold 9,601 units (domestic 7,135 units, exports 2,466 units) last month as compared to 13,326 units (domestic 13,088 units, exports 238 units) logged during May 2020.Cumu
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June 01, 2021
Limited mobility impacts segment
The Covid 19 pandemic has severely affected domestic sales in the three-wheeler auto segment. According to data released by the Society of Indian Automobile Manufacturers (SIAM), domestic sales for three-wheelers are almost at a two-decade low. Sales in 2020-2021 were below the domestic sales in the 2002-2003. Experts suggest that Covid 19, and consequent lockdowns impacted micro-mobility of people creating a negative impact on the rickshaw industry, which is the largest customer segment in this space.
The three-wheeler segment is made of two categories: the passenger segment and the cargo segment. The decline in overall numbers is largely due to a decline in sales in passenger vehicle segment. According to global analytics company, Crisil, 82 per cent of the sales in this segment are in passenger vehicles while 9 per cent are in the cargo segment.