Covid third wave, supply issues dent India's Jan retail sales: FADA
Monday,07 February 2022 06:48 PM IST
New Delhi, Feb 7
The third Covid wave, as well as semiconductor supply issues and rural distress, dented India's January 2022 automobile retail sales on a year-on-year (YoY) basis, FADA said.
Data released by the Federation of Automobile Dealers Associations (FADA) showed a YoY fall of 10.69 per cent in overall automobile retail sales during the month under review.
The overall retail sales fell to 14,39,747 units last month from 16,12,130 units sold during the corresponding month of 2021.
Also, last month's overall retail sales figure, when compared to the January 2020 period, showed a decline of 18.41 per cent.
In January 2020, the overall vehicle retail sales stood at 17,64,691 units.
On a YoY basis, passenger vehicle (PV) retail sales last month fell by 10.12 per cent to 2,58,329 units last month from 2,87,424 units sold during the corresponding month of last year.
Similarly, two-wheeler retail sales declined last month YoY, by 13.44 per cent to 10,17,785 units.
Tractor retail sales fell by 9.86 per cent to 55,421 units.
However, the commercial vehicle (CV) retail sales rose by 20.52 per cent to 67,763 units last month from 56,227 units sold during the corresponding month of last year.
"In spite of good demand, passenger vehicle continues to face the brunt of semi-conductor shortage resulting in void of a healthy inventory. Coming to two-wheeler category, the rural distress coupled with price rise and Omicron wave played a villain's role for this segment," FADA President Vinkesh Gulati said.
"With the revival in economy, CV segment continues to show YoY growth especially in HCV category. With increased infrastructure spending by Central as well as state governments, overall CV segment remains in momentum."