New Delhi: Automobile sales in India declined by 10.59 per cent in April year-on-year due to a sharp drop in the sales of cars, Society of Indian Automobile Manufacturers (SIAM) data showed on Wednesday.
A total of 1,421,241 vehicles including Passenger Cars, Three Wheelers and Two Wheelers were sold in April 2022 as against 1,270,604 units sold in April 2021.
According to SIAM, passenger vehicles registered a year-on-year decline of 4 per cent in April 2022. Total 251,581 passenger vehicles were sold in April 2022 as against 261,633 units sold in April 2021.
Passenger cars have seen a decline of 25.10 per cent in April 2022 as 112,857 passenger cars were sold in April 2022 against 141,194 units sold in April 2021.
Two-wheeler sales have registered a growth of 13.37 per cent as 1,148,696 two-wheelers were sold in April 2022 against 995,115 units sold in April 2021.
Three-wheeler sales have also increased by 33.82 per cent as 20,938 units of three-wheelers were sold in April 2022 against 13,856 units sold in April 2021.
"Sales of passenger vehicles are still below the April 2017 figures, while two-wheelers are even below the April 2012 figures," Rajesh Menon, Director General, SIAM, said in a statement.
"Three-wheelers are yet to reach normal levels, as sales are still less than 50 per cent of April 2016 figures. Manufacturers are working hard to manage the supplier ecosystem with agility and flexibility, as supply-side challenges continues for the industry," he said.
"Further, manufacturers are also monitoring the likely impact on demand, due to the recent hike in repo rates, as it would increase the lending rates to the customers," Menon added.