Passenger vehicles sales dip by 5 percent in March, as per FADA
Domestic passenger car retail sales fell 4.87 percent in March compared to the same month last year, reaching 2,71,358 units, according to the automotive dealers' association FADA. PV sales reached 2,85,240 units in March 2021, according to the Federation of Automobile Dealers Associations (FADA).
Last month, two-wheeler sales fell 4.02 percent to 11,57,681 units, down from 12,06,191 units the year before. Commercial vehicle sales increased 14.91 percent to 77,938 units in March, up from 67,828 units the previous month. Last month, three-wheeler sales increased by 26.61 percent to 48,284 units, up from 38,135 units in March 2021.
FADA President Vinkesh Gulati said "PV's continues to see high demand and long waiting period as semi-conductor availability still remains a challenge even though supplies slightly improved from previous month. The Russia-Ukraine war and China lockdown will further dent supplies and hence press brakes on vehicle availability thus making waiting period more frustrating for customers."
"FY 2022 was the first year of recovery after Covid hit us in 2020-21. The FY didn't begin on a good note as with the beginning of April, 2nd wave of Covid hit us hard. This time, the spread was not only limited to urban markets but had also taken rural India in its grasp. Unlike last year, the lockdown this time around had been imposed by State Governments and not the Central. Many states continued to remain under lockdown even in May and for over 60 days thus impacting lives, economy and auto sales," Vinkesh Gulati further added.