Domestic automobile sales grow 77% in March on lower base last year
April 12, 2021
Hit by Covid-19 and lockdown last year, the domestic automobile sales during March grew significantly on a yearly basis, across all segments.
In the passenger car segment, the domestic wholesales during March grew by 94 per cent year-on-year (YoY) to 1,56,985 as compared with 80,727 units in March last year, the latest report by Society of Indian Automobile Manufacturers (SIAM) said on Monday.
The utility segment grew by 153 per cent to 1,22,350 units in March as compared with 48,291 units in the corresponding month last year. This has led to the total passenger vehicle sales to 2,90,939 units during the last month as against 1,35,196 units in March 2020.
Commercial vehicle sales plunge 21% in FY21, PV sales decline 2%
Total CV sales declined 20.77 per cent to 5,68,559 units in FY21 as against 7,17,593 units in 2019-20, as per the data released by the Society of Indian Automobile Manufacturers.
BusinessToday.In | April 12, 2021 | Updated 22:59 IST
Vehicle sales across categories declined 13.6 per cent to 1,86,15,588 units as against 2,15,45,551 units in the year-ago period.
Hit by the COVID-19 pandemic, commercial vehicle (CV) sales in India fell nearly 21 per cent in fiscal year 2020-21, while sales of passenger vehicles declined 2 per cent.
Total CV sales declined 20.77 per cent to 5,68,559 units in FY21 as against 7,17,593 units in 2019-20, as per the data released by the Society of Indian Automobile Manufacturers (SIAM). PV sales fell 2.24 per cent to 27,11,457 units in FY21 from 27,73,519 units in 2019-20.
March Passenger Vehicle Sales Jump, Industry Body Warns Of Uncertainty March Passenger Vehicle Sales Jump, Industry Body Warns Of Uncertainty Sales of passenger cars, sport utility vehicles (SUVs) and vans rose to 290,939 units in March from 135,196 units a year ago, SIAM data showed.
Updated: April 12, 2021 2:27 pm IST
Total domestic passenger vehicle sales rose 115.2 per cent in March, data from an auto industry body showed on Monday, but it warned that the COVID-19 pandemic had set back an already bruised auto industry by many years.
The Indian auto sector was already facing a demand slowdown when the government imposed a nationwide lockdown in March last year to curb the spread of the coronavirus.
Strong March quarter show restricts automobile sales decline in FY21 to 13.6%
Yet, this was the second straight year of double-digit decline in the auto industry. The low base helped prop up numbers in one quarter but makes the narrative even more worrisome for the full year
Sumant Banerji | April 12, 2021 | Updated 21:24 IST
Malaise in auto sector is structural
A strong rebound in the last quarter, where sales jumped nearly 26 per cent over last year, restricted overall decline in sale of automobiles during a pandemic-hit fiscal 2021 to 13.6 per cent at 18.6 million units.
In a year where at least two months of sales was lost due to the lockdown in April and May last year, it could have been much worse. Industry body Society of Indian Automobile Manufacturers (SIAM) had at the start of the fiscal in April 2020, when the pandemic was still fresh, said sales could potentially shrink by over 20 per cent to just 15.5 million units. The relatively modest decline was part of its mo