Auto sales dip month-on-month in April due to rise in Covid-19 cases: SIAM
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As per data available with industry body Society of Indian Automobile Manufacturers (SIAM), passenger vehicle sales last month stood at 261,633 units, two-wheeler sales at 995,097 units and three-wheeler sales at 13,728 units. The data does not include volumes of Tata Motors, which has stopped reporting monthly sales to SIAM.
Sales of passenger vehicles fell by 10.07 %, compared to March 2021, due to various restrictions in states which have been experiencing surge in COVID-19 cases, said Rajesh Menon, Director General, SIAM.
Automobile sales declined in double-digits over March last month, mainly due to the restrictions imposed by local administrations to contain the sharp rise in Covid-19 cases in the country. The industry had recorded zero sales in the same period last year amid a nationwide lockdown.
Sensex, Nifty fall for 2nd consecutive session amid weak global cues
The NSE Nifty 50 index fell 0.45% to 14,784.55 by 9:23 am, while the S&P BSE Sensex slipped 0.56% to 48,885.91.
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UPDATED: May 12, 2021 10:10 IST
The Nifty Financial Services index slid 1%, with top non-bank lender HDFC Ltd dropping 2.3%. (Photo: Reuters)
Financials dragged Indian benchmark stock indexes lower on Wednesday, as broader Asian markets extended a sell-off fuelled by concerns that a potential pickup in U.S. inflation could lead to interest rate hikes sooner than expected.
The NSE Nifty 50 index fell 0.45% to 14,784.55 by 9:23 am, while the S&P BSE Sensex slipped 0.56% to 48,885.91.
Speculation that surging commodity prices and growing inflationary pressure in the United States could lead to earlier rate hikes and higher bond yields globally sent Asian shares to one-month lows.
Passenger vehicle sales in March 2021, stood at 2,90,939 units. There were no passenger vehicle sales in April 2020, due to coronavirus-led nationwide lockdown. As expected, the COVID wave has impacted the sales of vehicles in the month of April 2021. Sales of passenger vehicles fell by about 10.07 per cent, compared to March 2021, due to various restrictions in states which have been experiencing a surge in COVID-19 cases, SIAM Director General Rajesh Menon said. As per the latest data by Society of Indian Automobile Manufacturers (SIAM), two-wheeler dispatches to dealers declined by 33 per cent to 9,95,097 units last month, as compared to 14,96,806 units in March.
PVs sales down 10.07%; 33.52% dip in 2-wheeler units as lockdowns hit auto industry: SIAM
Supply chain related production challenges continue with the lockdown restrictions in many parts of the country. In the three-wheeler category, 13,728 units were sold in April 2021 compared to 31,930 units sold in March, thereby showing a 57.01 per cent decline
BusinessToday.In | May 12, 2021 | Updated 12:31 IST
The auto industry has been majorly impacted due to the second wave of Covid-19
Passenger vehicle wholesale stood at 261,633 units in April 2021 compared to 2,90,939 sales recorded in March, a 10.07 per cent decline in auto sales, the SIAM (Society of Indian Automobile Manufacturers) data shows. The auto industry has been majorly impacted due to the second wave of Covid-19, which has forced auto companies to shut plants across India. A spate of lockdowns in various states across the country have impaired dealers from conducting business.
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BENGALURU (Reuters) - Indian shares were weighed down by financials on Wednesday as Asian peers slumped on concerns over a potential pickup in U.S. inflation, while domestic COVID-19 deaths crossed the quarter-million mark with no signs of infections peaking.
The NSE Nifty 50 index fell 0.9% to 14,717.8 by 0458 GMT, while the S&P BSE Sensex dropped 0.93% to 48,705.87.
Speculation that surging commodity prices and growing inflationary pressure in the United States could lead to earlier rate hikes and higher bond yields globally sent Asian shares to two-month lows, although U.S. Federal Reserve officials reiterated a firmly dovish policy stance. [MKTS/GLOB]