Automobile Sales Gather Speed ​​With New Launches, Registers 10 Percent Growth In May

Last month has been good for the automobile industry in the country. Retail sales of automobile companies grew by nearly 10 per cent to 20,19,414 units on strong demand for passenger vehicles and two-wheelers. The figure stood at 18,33,421 units in the same period last year.

Manish Raj Singhania, President, Federation of Automobile Dealers Associations (FADA) said that the demand for passenger vehicles will increase due to new launches coupled with increased availability of vehicles. sales There has been recovery. Last month, retail sales of two-wheelers grew by nine percent to 14,93,234 units. It was 13,65,924 units in the same month last year. Singhania said that the decrease in FAME given by the central government and increase in demand in rural areas were the main reasons behind the increase in sales of two-wheelers.

Sales of commercial vehicles have increased by seven percent. Sales of commercial vehicles stood at 77,135 units last month. This was against 71,964 units in the same period last year. Apart from this, retail sales of three-wheelers increased by 79 percent to 79,433 units. There was an increase of about 10 percent in the sales of tractors. FADA says that in the coming months, the demand for the automobile sector may remain strong due to the Reserve Bank of India’s (RBI) monetary policy committee keeping the interest rates intact.

However, automobile companies semiconductor The shortage may force the production of cars to be reduced. Maruti Suzuki, one of the big car companies, has told that it will suffer production loss in the first quarter of the current financial year due to the shortage of electronic components. However, the company expects some improvement in the situation in the next quarter. For the past several months, Maruti has had to cut production due to a shortage in the supply of semiconductors. Because of this, the company is finding it difficult to meet the demand. In the last financial year, Maruti suffered a production loss of around 1.7 lakh units. The company’s Senior Executive Officer (Sales & Marketing), Shashank Srivastava had said, “We had a loss of around 45,000 units in the third quarter of the last financial year and the loss in the fourth quarter was around 38,000 units.” The number of pending orders with the company has increased to more than four lakh units.