Even though total domestic vehicle sales grew almost 77% in March — albeit on a lower base — on an annual basis wholesales fell 13.6% to about 1.86 crore units in FY21, data from Society of Indian Automobile Manufacturers (SIAM) showed.
Passenger vehicle wholesales more than doubled in March 2021 to over 2.9 lakh units, from a year earlier. Similarly, two-wheeler sales in the month grew 72% to more than 14.96 lakh units.
Overall sales in March rose to 18.19 lakh units from 10.29 lakh units. The data did not include Tata Motors’ numbers. For FY21, passenger vehicle sales fell 2.24% to 27.11 lakh units. Commercial vehicles sales declined 20.8% to 5.68 lakh.
“A deep structural slowdown in the industry even before the pandemic, combined with the impact of COVID-19 in [FY21], has pushed all vehicle segments back by many years. Recovery… will require time and effort, by all stakeholders,” said SIAM president Kenichi Ayukawa.
He added there was uncertainty owing to semiconductor shortages, lockdowns and input costs.