SIAM Flash Report for February 2021

10th March 2021 Jas 2 Wheelers, 3 Wheelers, India, Passenger Cars, Reports/Research, SIAM 0

Auto Industry Sales Performance of February & April- February 2021

Monthly Performance: February 2021
Production: The total production of Passenger Vehicles*, Three Wheelers, Two Wheelers and Quadricycle in the month of February 2021 was 2,252,877 units, as against 1,952,911 units in February 2020 marking a growth of 15.36%.
Domestic Sales:
• Passenger Vehicles* sales was 281,380 units in February 2021, compared to 238,622 units in February 2020, marking a growth of 17.92%.
• Three-wheeler sales was 27,331 units in February 2021 compared to 41,300 units in February 2020 marking a decrease by (-) 33.82%.
• Two-wheeler sales was 1,426,865 units in February 2021, compared to 1,294,787 units in February 2020, with a growth of 10.20%.
Performance: April – February 2021
Production: Total production of Passenger Vehicles**, Three Wheelers, Two Wheelers and Quadricycle in April- February 2021 was 19,572,565 units as against 24,140,891 units in April- February 2020 with a decline of (-) 18.92%.
Domestic Sales:
• Passenger Vehicles** sales was 2,335,808 units in April- February 2021, compared to 2,605,383 units in April- February 2020, down by (-) 10.35%.
• Three-wheeler sales was 184,267 units in April- February 2021 compared to 609,457 units in April- February 2020, down by (-) 69.77 %.
• Two-wheeler sales was 13,622,581 units in April- February 2021, compared to 16,549,587 units in April- February 2020, down by (-) 17.69 %

Commenting on the February 2021 data, Mr Rajesh Menon, Director General, SIAM said “In the month of February 2021, 2.81 Lakhs Passenger Vehicles were sold, clocking a CAGR growth of just 3.29% over the previous highest sales in the month of February, in the year 2018 of 2.55 Lakhs, while in February 2020 the total sales were 2.39 Lakhs. As far as Two-Wheelers are concerned 14.27 Lakhs units were sold in February 2021, which results in a de-growth of (-) 5.41% CAGR from the previous highest sales in the month of February, in the year 2018 of 16.86 lakhs, while in February 2020, the sales of Two-Wheelers were 12.95 Lakhs units. However, the total sales from April to February period of Passenger Vehicles were still below 2015-16 levels and for Two-Wheelers it is below 2014-15 levels. Sales of Three-Wheelers continued to suffer a de-growth of (-)33.82%, compared to February 2020, primarily on account of lower off-take of Passenger Three-Wheelers. Supply chain challenges including rising price of steel, unavailability of semi-conductors and higher container charges, continue to be obstacles in smooth functioning of the industry.”