SIAM has announced the sales numbers for the first month of the current fiscal. Passenger Vehicles which include UVs and vans were 251,581 units in April 2022 as against 261,633 units in April last year, a decline of three percent.
The news that is some cause for cheer are the two-wheeler sales which rose 15 percent to 1,148,696 units in April 2022 as against 995,115 units in the year-earlier month.
Rajesh Menon, Director General, SIAM said, “Sales of Passenger Vehicles are still below the April 2017 figures, while the two-wheeler segment sales are even below the April 2012 figures. Three-Wheelers are yet to reach normal levels, as sales are still less than 50 percent of April 2016 figures.
SIAM said that OEMs are still trying to cope with supply side challenges and are working hard to manage the supplier ecosystem with agility and flexibility. Manufacturers are also monitoring the likely impact on demand, due to the recent hike in repo-rates, as it would increase loan rates, SIAM said.