Passenger Vehicle Retail Sales Slip 5% In March Due To Chip Shortage, Russia-Ukraine War: FADA
Sales of commercial vehicle rose 14.91 per cent to 77,938 units, as compared to 67,828 units in March last year
New Delhi: Automobiles dealers’ body Federation of Automobile Dealers Associations (FADA) on Tuesday said that the retail sales of domestic passenger vehicles in March dropped by 4.87 per cent to 2,71,358 units, as compared to the same month last year.
According to the statement released by FADA, the passenger vehicle (PV) sales stood at 2,85,240 units in March 2021.
FADA President Vinkesh Gulati said, “Passenger vehicles continue to see high demand and long waiting periods as semiconductor availability still remains a challenge, even though supplies slightly improved from previous month.”
The ongoing conflict between Russia and Ukraine and Covid-induced lockdown in China will further dent supplies and hit vehicle deliveries, he added.
According to the FADA news release, two-wheeler sales also skidded by 4.02 per cent to 11,57,681 units last month, as compared to 12,06,191 units in the year-ago period.
“The two-wheeler segment was already a non-performer due to rural distress. It saw further dampening due to rise in vehicle ownership cost coupled with rising fuel cost,” Gulati said.
However, sales of commercial vehicle were up 14.91 per cent to 77,938 units, as compared to 67,828 units in March last year.
“Commercial vehicles continue to inch forward even though full recovery from FY20 perspective is still away. Sentiment for the segment remain positive as the government’s infra push coupled with replacement demand is driving sales,” he added.
Three-wheeler sales were also up 26.61 per cent to 48,284 units last month, as compared to 38,135 units in March 2021.
Total sales across categories, however, declined by 2.87 per cent to 16,19,181 units last month, as against 16,66,996 units in the same month last year.
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