On a low base of Covid-19-hit May last year, passenger vehicle dispatches to dealers in India increased by two-fold last month, as per PTI report.
Passenger vehicle wholesales increased to 2,51,052 units last month, up from 88,045 units in May 2021, according to the Society of Indian Automobile Manufacturers (SIAM).
In May, two-wheeler sales increased to 12,53,187 units, up from 3,54,824 units in the year-ago period, said PTI.
Similarly, total three-wheeler dispatches in last month were 28,542 units, up from 1,262 units in May 2021.
According to PTI, in May, total PV, two-wheeler, and three-wheeler sales reached 15,32,809 units. In the previous year, the figure was 4,44,131 units.
“Sales of two-wheelers and three-wheelers continue to remain sluggish in the month of May 2022, as they are even below of what it was 9 years and 14 years ago, respectively,” SIAM Director General Rajesh Menon said.
Similarly, he continued, sales of passenger vehicle segment are also still below 2018 level, PTI said.
“Recent Government interventions would help in easing of the supply side challenges, but second hike in repo-rates by RBI and increase in third party insurance rates, could become more challenging for the customers, thereby impacting demand,” Menon noted.
In May 2022, the total output of three-wheelers, two-wheelers, and quadricycles (excluding BMW, Mercedes, Tata Motors, and Volvo Auto) was 19,65,541 units, PTI said.
It was 8,08,755 units in the month under review a year ago, when the country was ravaged by the second wave of the COVID pandemic.