Explorer

Good News For Auto Industry; Sales Of Passenger Vehicles Increase By 18 Percent In Feb

Passenger vehicles sales up 18% in February: According to the industry body's latest data, in February 2021, total sales of passenger vehicles, three-wheelers, two-wheelers, and quadricycles, increased by 15.36% to 22.5 lakh units, up from 19.5 lakh in February 2020.

Showing a strong comeback in February, India's passenger vehicle (car, SUV, and vans) sales increased 17.92% to 2,81,380 units compared to 238,622 units the same month last year, the auto industry body Society of Indian Automobile Manufacturers (SIAM) said on Wednesday.

According to the industry body's latest data, in February 2021, total sales of passenger vehicles, three-wheelers, two-wheelers, and quadricycles, increased by 15.36% to 22.5 lakh units, up from 19.5 lakh in February 2020.

ALSO READ | XC40 Recharge: Volvo's Latest EV To Be The Most Affordable Electric Luxury SUV In India

Two-wheeler sales during February went up by 10.2% to 14,26,865 units, while three-wheeler sales fell 33.82% during the month to 27,331 units.

However, the total sales from the April to February period of passenger vehicles were still below 2015-16 levels, and for two-wheelers, it is below 2014-15 levels.

Total production of passenger vehicles, three-wheelers, two-wheelers, and quadricycle in April- February 2021 fell 18.92% to  19,572,565 units as against 24,140,891 units in April- February 2020.
 
In the last 11 months, the passenger vehicle sales fell by 10.35% to 2,335,808 units; three-wheeler sales fell by 69.77% to 184,267 units, and two-wheeler sales fell by 17.69% to 13,622,581 units.

"Sales of Three-Wheelers continued to suffer a de-growth of (-)33.82%, compared to February 2020, primarily on account of lower off-take of Passenger Three-Wheelers. Supply chain challenges including rising price of steel, unavailability of semi-conductors and higher container charges, continue to be obstacles in smooth functioning of the industry," Mr. Rajesh Menon, Director General, SIAM.

ALSO READ | Gold Prices Advance, Silver Jumps Rs 126; Check Rates In Delhi, Mumbai & Kolkata

According to Mr. Menon, in February 2021, 2.81 lakhs passenger vehicles were sold, clocking a CAGR growth of just 3.29% over the previous highest sales in the month of February, in the year 2018 of 2.55 lakhs, while in February 2020, the total sales were 2.39 lakhs.

As far as two-wheelers are concerned, 14.27 lakh units were sold in February 2021, which results in a de-growth of (-) 5.41% CAGR from the previous highest sales in the month of February, in the year 2018 of 16.86 lakhs, while in February 2020, the sales of two-wheelers were 12.95 lakhs units, Mr. Menon added.

Maruti Suzuki India (MSI), the country's largest carmaker, registered an 8.27% increase in sales last month to 1,44,761 units.

On the other hand, Hyundai Motor India posted a 28.97% rise in dispatches last month, totaling 51,600 units.

In December 2020, the auto sales increased for the first time this fiscal year, only to drop again in January 2021.

In the third quarter of FY 20-21, India's economy resurfaced to growth territory, with a 0.4 percent increase in GDP.


Car loan Information:
Calculate Car Loan EMI

View More
Advertisement
Advertisement
25°C
New Delhi
Rain: 100mm
Humidity: 97%
Wind: WNW 47km/h
See Today's Weather
powered by
Accu Weather
Advertisement

Top Headline

I.N.D.I.A Bloc In Bihar: Here's How Congress, RJD Have Decided To Share Seats After JD-U's Exit
I.N.D.I.A Bloc In Bihar: Here's How Congress, RJD Have Decided To Share Seats After JD-U's Exit
'BJP Should Pay Rs 4,600 Crore': Congress Slams Income Tax Dept, ECI After Getting Rs 1,700-Crore Notice
'BJP Should Pay Rs 4,600 Crore': Congress Slams Income Tax Dept, ECI After Getting Rs 1,700-Crore Notice
Another Blow To Congress As I-T Dept Serves Rs 1,700-Crore Notice Ahead Of Lok Sabha Elections: Report
Another Blow To Congress As I-T Dept Serves Rs 1,700-Crore Notice Ahead Of Lok Sabha Elections
Sunita Kejriwal Launches WhatsApp Campaign To Drum Up Support For Jailed Delhi CM
Sunita Kejriwal Launches WhatsApp Campaign To Drum Up Support For Jailed Delhi CM
Advertisement
for smartphones
and tablets

Videos

Mukhtar Ansari's Death: Post-Mortem Conducted In Banda, VideotapedABP Shikhar Sammelan 2024: Anurag Thakur Stresses That No Election Comes Without Challenges'I Have Studied Kejriwal's Graph, When He Speaks Against Modi Ji, It Drops': BJP Leader & Minister Of Urban Development Hardeep Puri'Murkhta Ke 3 Levels Hote Hai': BJP Leader &  Minister of Urban Development Hardeep Puri At ABP Shikhar Sammelan 2024

Photogallery

Embed widget