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Synopsis
Sales of three-wheelers in the domestic market have declined 74% year-on-year between April and December to 130,601 units, data from the Society of Indian Automobile Manufacturers (SIAM) showed. Sales of goods carriers fared slightly better than passenger carriers.
MUMBAI: Three-wheeler sales have been critically low and deep in the red in the quarter since the broad lockdown was eased as the popular mode of commuting public across the country suffered as schools, educational institutes and offices are still to open with remote working taking over.
Sales of three-wheelers in the domestic market have declined 74% year-on-year between April and December to 130,601 units, data from the Society of Indian Automobile Manufacturers (SIAM) showed. Sales of goods carriers fared slightly better than passenger carriers.
Union Budget 2021: Auto industry welcomes scrappage scheme, decries new duties on imported parts
Union Budget 2021: Owners will be incentivised to scrap passenger vehicles that are over 20 years old and commercial vehicles that are over 15 years old. There is, however a concern that there may not be too many such vehicles as the average replacement cycle of a passenger cycle is around eight years and of a CV is around 8-10 years. The hike in customs duty on certain auto parts to 15 percent will raise input costs and prices for cars that depend on specialised components February 02, 2021 / 10:00 AM IST
Union Budget 2021 did not offer much to the automotive sector but industry stakeholders were content that there were no nasty surprises, which in budgets past had troubled them.