India’s domestic auto sales and exports fall by around 13%: SIAM

The Society of Indian Automobile Manufacturers (SIAM), today released domestic sales & exports data for FY ’21. Let’s take a look at the highlights:

• The automobile industry witnessed a de-growth of 13.6% in FY ’21 with 18.6 mn units including passenger cars, commercial vehicles, three-wheelers and two-wheelers as against 21.54 mn units sold in the year-ago period.
• On the sales front, a deep structural slowdown in the industry even before the pandemic combined with the impact of Covid-19 in 2020-21 has pushed all vehicle segments back by many years.
• Total exports of PV, CV, 2W and 3W stood at 4.12 mn units, down 13% y-o-y in FY ’21.
• There is uncertainty in the value chain owing to semiconductors, lockdowns and raw material.