The auto business noticed a decline of 6% in gross sales throughout FY22, nonetheless damage by provide challenges the business confronted throughout early 2022, and the chip scarcity affecting many carmakers.
During FY22, the auto business produced a complete of twenty-two,933,230 items, which embrace Passenger Vehicles, Commercial Vehicles, Three Wheelers, Two Wheelers, and Quadricycles. However, the gross sales information doesn’t embrace a couple of manufacturers reminiscent of BMW, Volvo, and Mercedes.
When wanting on the numbers between the interval of January 2022 to March 2022, the business produced a complete of 6,014,377 items. This contains 920,661 passenger autos, 249,806 business autos, 83,218 three-wheelers, and three,350,497 two-wheelers.
Commenting on annual gross sales information, Kenichi Ayukawa, President, SIAM stated, “The year gone by was full of unforeseen challenges and new learning for the industry. Indian auto industry has worked hard against these challenges to keep the value chain running, indigenize parts, control costs, invest in new technologies, and enhance exports. The Government also came out with targeted support like PLI schemes, FAME scheme extension, etc.”
Elaborating on the gross sales efficiency, he talked about, “Despite some recovery from a low base, sales of all four segments of the auto industry are below even 2018-19 level. While some segments like Commercial Vehicles and SUVs are seeing improvement in demand, the mass segments like two-wheelers and smaller cars are facing serious affordability issues. Of course, our immediate challenge in most segments is semiconductor availability.”
Talking about export efficiency, he stated, “We are happy to share that all four segments of the industry have increased their exports. In fact, two-wheelers achieved their highest ever exports. It is good to see that Indian products are becoming more acceptable worldwide for their quality, cost and performance.”
Commenting on the 2021-22 efficiency, Rajesh Menon, Director General, SIAM stated, “Overall Industry witnessed a de-growth of (-) 6% in FY22. All segments are facing supply-side challenges and the industry is yet to see complete recovery following the disruptions it has been facing since early 2020.”
He added, “Passenger Vehicles, Commercial Vehicles and Three-wheelers have witnessed a growth compared to a low base of the industry in 2020-21, but the Two-Wheeler segments further declined by (-) 11% from the previous year.”
Source: www.financialexpress.com”