Vehicle Sales Drop 41 Percent in September
The Society of Indian Automobile Manufacturers, or Siam, reported on Thursday that passenger vehicle sales in September plunged 41% to 1,60,070 units, down from 2,72,027 units in the same month a year ago.
High commodity prices and a chip shortage exacerbated automakers’ woes, resulting in lower sales. In the same month last year, the car sector sold 2,72,027 passenger automobiles. On a sequential basis, September’s PV sales were much lower than August’s 2.32 lakh.
In fact, the drop in PV output comes as manufacturers struggle to meet demand due to a severe scarcity of semiconductors, despite the fact that dealers have an order book of over 500,000 units and certain vehicle models/variants have six-month wait times.
In September, Maruti Suzuki, the world’s largest carmaker, curtailed production by 60%, followed by Hyundai, Nissan, M&M, and MG Motor. Maruti Suzuki claims to have 2,15,000 PV orders outstanding.
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