Two Wheeler Sales Fell To 10 Year Low
According to SIAM, an organization of vehicle manufacturers, the pace of wholesale sales of vehicles in the country has been sluggish in the last financial year 2021-22. The organization said that during the last financial year in the country, the total wholesale sales of vehicles have decreased by six percent. At the same time, two-wheeler sales fell to a 10-year low. According to SIAM, the total sales of vehicles across various categories declined to 1,75,13,596 units in the last financial year from 1,86,20,233 units in 2020-21.
According to SIAM data, if 2020-21 is excluded, the sales figure of three wheelers is the lowest in 19 years. At the same time, sales of commercial vehicles have also decreased. In the last financial year, commercial vehicle sales hit a five-year low. However, during the same period, the total sales of passenger vehicles increased by 13 percent to 30,69,499 vehicles, from 27,11,457 vehicles in 2020-21.
The overall sales of two-wheelers declined by 11 percent, taking it to 1,34,66,412 units. In the previous financial year, the sale of two-wheelers stood at 1,51,20,783 units. During the financial year 2021-22, the sales of three wheelers increased to 2,60,995 units as against 2,19,446 units in the previous financial year.
According to SIAM data, total passenger vehicle sales in the country in March 2022 declined by four per cent to 2,79,501 units from the same period a year ago. Sales of passenger vehicles stood at 2,90,939 units in March, 2021.
Two-wheeler sales declined 21 percent to 11,84,210 units in March. In March 2021, the sales of two wheelers stood at 14,96,806 units. During this period, motorcycle sales declined by 21 percent to 7,86,479 units from 9,93,996 units. Scooters sales also declined by 21 percent to 3,60,082 units. Two-wheeler companies sold 4,58,122 scooters in the same month a year ago.