Automobile sales register 14 per cent growth in December

In December, the domestic passenger car sales grew by more than eight per cent year-on-year (YoY) to 1,46,864 units compared with 1,35,531 units in December 2019.

The utility vehicle sales also grew by around 20 per cent YoY to 94,787 units during the month as against 79,153 units in corresponding month previous year, the latest report shared by Society of Indian Automobile Manufacturers (SIAM) said on Thursday.

This has led to the overall growth of around 14 per cent in the passenger vehicle segment to 2,52,998 units during the month as compared with 2,22,728 units in December 2019.

In the two-wheeler segment, the sales grew by a little more than seven per cent YoY to 11,27,917 units in December as compared with 10,50,038 units in December 2019.

The motorcycle sales grew by around seven per cent to 7,44,237 units during the month as compared with 6,97,819 units in the corresponding month previous year.

Similarly, scooter sales grew by around six per cent YoY to 3,23,696 units compared with 3,06,550 units in December 2019.

“Indian automobile industry appreciates the government’s efforts to balance the safety of people and the revival of the economy from the negative effects of the pandemic. Initiatives such as the announcement of PLI scheme, keeping interest rates very low, targeted spending in rural areas and continued focus on building road infrastructure, will help in our recovery process,” Kenichi Ayukawa, President, SIAM said.

He also said that the market situation is dynamic and uncertain. The industry is facing a shortage of semiconductors, steel and shipping containers.

“There is also an impact of the price increase of steel, logistics and other raw materials. The industry is working hard to get back to better volumes and better business health while ensuring the safety and well-being of people across the whole value chain,” he added.

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