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Friday, December 02 2022
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Semiconductor shortage dent Oct PV sales

Semiconductor shortage dent Oct PV sales
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New Delhi: Challenges pertaining to electronic components’ availability, coupled with high operating and ownership costs due to rising commodity prices dragged passenger vehicles’ sales lower on a year-on-year basis in October.

Accordingly, the sales of passenger vehicles fell to 2,26,353 units in October as compared to 3,10,694 units sold during the corresponding month of 2020.

On a sequential basis, October’s PV sales were higher than September’s level of 1,60,070 units.

The data furnished by the Society of Indian Automobile Manufacturers (SIAM) does not include sales figures from some key players such as Tata Motors.

The PV sales data comprises cars, utility vehicles and vans.

Segment-wise, a total of 1,03,829 passenger cars were sold in the domestic market in October, down from 1,82,692 units sold in the like period of 2020.

The sales of other sub-categories such as utility vehicles (UV) and vans also decreased on a year-on-year basis. As per the data, UV sales fell to 1,12,112 units from 1,14,390 units, while the off-take of vans declined to 10,412 units from 13,612 units in the year-ago period.

In terms of two-wheelers, sales were lower in October 2021 at 15,41,621 units from 20,53,814 units sold in the like month of 2020.

The overall domestic automobile sectors’ off-take representing the sales of passenger vehicles, two-wheelers, three-wheelers and quadricycle fell to 17,9 9,750 units from 23,91,192 units sold during the same period of last year.

However, the data showed a YoY rise in exports.

The overall exports, including PVs, two and three-wheelers and quadricycle rose to 456,698 units from 454,637 units during the same period of last year.

“Manufacturers were banking on the festive season to recover from the severe drop in sales they have faced in the early part of the financial year 2021-22,” said Rajesh Menon, Director General, SIAM.

“However, shortage of semiconductors and steep hike in raw material cost have been a major spoilsport for the industry.”

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