Posted on 16 Aug 2021
Indian automotive output soared 22% on-year to 2,099,035 units in July against 1,715,514 units produced a year earlier, reports the Society of Indian Automobile Manufacturers (SIAM). The output includes passenger vehicles, commercial vehicles, three-wheelers, two-wheelers, and quadricycles.
Production increased 106% on-year to 6,545,619 units during April-July 2021 against 3,173,169 units last year, Kallanish notes.
“The wholesale dispatches of passenger vehicles in the domestic market were up 44.6% in July 2021 amid a challenging and uncertain business environment,” says SIAM.
Passenger vehicle sales surged 45% to 264,442 units in July against 182,779 units last year. Three and two-wheelers sales clocked at 17,888 units and 1,253,937, respectively.
“Indian Automobile Industry continues to face heavy headwinds in the form of global semiconductor shortage and steep rise in commodity prices,” says SIAM’s director-general Rajesh Menon. “On the one hand, the Industry is managing such supply chain challenges while ensuring the safety of its people. And on the other hand, also keeping a close eye on the onset of the third wave in India and across the world.”
Passenger vehicle export grew 53% on-year to 52,319 units in July and two-wheeler export grew more than double to 377,000 units.
“Amidst such challenging and uncertain business environment, the industry is trying to maximise production and sales. However, sales for the period of April to July 2021 for the passenger vehicle segment are still lower than the level of 2016-17. The two-wheeler segment is also lower than the level of 2010-11 and the three-wheeler segment has been pushed back by many years,” Menon adds.
Source:Kallanish
