HomeBusinessAutomobile gross sales drop 41% in September

Automobile gross sales drop 41% in September

PUNE:  Passenger car gross sales comprising vehicles, utility automobiles and vans in September fell 41 per cent to 1,60,070 models from 2,72,027 models in the identical month a 12 months in the past, the Society of Indian Vehicle Producers or Siam mentioned on Thursday.

The gross sales dropped as excessive commodity costs and semiconductor crunch aggravated issues for automakers.

 

The auto business had offered 2,72,027 passenger automobiles in the identical month final 12 months. September’s PV gross sales have been far decrease than August’s 2.32 lakh on a sequential foundation.

In actual fact, the autumn in PV volumes comes as automakers battle to fulfill demand because of the acute scarcity of chips, at the same time as sellers sit on an order e book exceeding 500,000 models and the ready interval for sure car fashions/ variants stretches over six months.

Maruti Suzuki, the automobile market chief, had slashed manufacturing by 60 per cent in September adopted by cuts from Hyundai, Nissan, M&M and MG Motor. Maruti Suzuki claims to have pending orders for two,15,000 PVs.

 

“Indian automobile industry continues to face new challenges. While on one hand, we are seeing a revival in vehicle demand, on the other hand, shortage of semiconductor chips is causing a major concern for the industry. Many members have curtailed their production plans,” Kenichi Ayukawa, president at Siam, mentioned.

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