August  PV production up 25 percent: SIAM

Production figures are a good barometer of the pulse of the economy has OEMs indicate their likely sales numbers in their monthly updates.

By Brian de Souza calendar 10 Sep 2022 Views icon4586 Views Share - Share to Facebook Share to Twitter Share to LinkedIn Share to Whatsapp

While domestic wholesale (despatches to dealers) of total passenger vehicles (PVs) has gone up by 21 percent year-on-year  at 281,210 units in August, compared to 2,32,224 units in same month last year, production of cars, utility vehicles and vans rose from 266,748 units to 333,484 units, up 25 percent YoY.

Production figures are a good barometer of the pulse of the economy has OEMs indicate their likely sales numbers in their monthly updates, and with the run up to the festive season having begun, OEMs are gearing up to be able to cater to what may be a surge in demand.

According to SIAM, production of UVs rose 24 percent to 160,643 units as against 129,965 units in the year-earlier month. However, July production numbers at 358,888 units, 6 percent higher than in the just-ended month.

In last month’s releases on sales figures, OEMs have indicated that improved supplies of chips has helped the situation look better as also, it is perhaps an indication that plans to manage chips supplies that several companies put in place have shown some results.

SIAM did not release August numbers for the CV sector as these numbers on now only provided on a quarterly basis.

OEM-wise, Maruti Suzuki India’s production numbers rose to 156,041 units as against 111,366 in the year-earlier month. M&M numbers in the production domain nearly doubled perhaps indicating a surge that wasn’t seen in the year-earlier month as the auto sector was emerging from the second wave of the Covid.

In the two-wheeler segment, where the entry-level bikes have borne the brunt of the Covid, production rose 11 percent from 1667,627 units to 1860,757 units in August. Production of bikes rose 10 percent  while scooters were up 14 percent in the August as against the year-earlier month.

The auto sector’s total production of PVs, three-wheelers, two-wheelers and quadricycles for the month was 2,275,407 units as against 1995,342 units in the year-earlier month, up 14 percent.

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