India’s automotive sector saw a 7 percent decline in February sales to 262,984 units compared to 281,330 units in February, 2021. However, utility vehicle sales bucked the general trend and clocked five percent growth to 120,122 units as against 114,350 units in February 2021. These are wholesale numbers that were put out by the Society of Indian Automotive Manufacturers or SIAM.
In the two-wheeler segment, sales continue to be under tremendous pressure with scooter and motorcycles sales falling 26 percent and 28 percent respectively. For the sector as a whole, 10,37,994 units were sold inclusive om moped numbers as against 14,26,865 units sold in the year-earlier month.
With the war in Ukraine sending prices of crude through the roof, diesel and petrol prices are expected to be raised in a day or two.