: COVID-19 third wave subdues January auto sales #FinanceIndia #StockMarketNEWS #Business Indo-Asian News Service New Delhi COVID-19’s third wave, as well as supply side constraints, impacted

@StockMarketNEWS Tue 15 Feb, 2022

Posted in: #FinanceIndia #StockMarketNEWS #Business

COVID-19 third wave subdues January auto sales #FinanceIndia #StockMarketNEWS #Business
Indo-Asian News Service



New Delhi



COVID-19’s third wave, as well as supply side constraints, impacted India’s domestic auto Asector sales in January 2022 on a year-on-year basis.



The sector’s current off-take of passenger cars, two-and-three wheelers were far behind even the 2020 sales levels.



In terms of PVs, challenges pertaining to electronic components’ availability pulled sales lower on a YoY basis in January.



The shortage has extended waiting periods and escalated prices.



The industry was able to produce only 158,891 units of passenger cars in January 2022 from 173,463 units made in the corresponding period of the previous year. The data furnished by the Society of Indian Automobile Manufacturers (SIAM) does not include sales figures from some key players such as Tata Motors.



Sales of passenger vehicles fell to 254,287 units in January as compared to 276,554 units sold during the corresponding month of 2021.



Segment-wise, a total of 126,693 passenger cars were sold in the domestic market in January, down from 153,244 units sold in the like period of 2021.



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