Passenger vehicle retail sales declined 10 per cent year-on-year in January 2022, as the companies continued to suffer production loss amid semiconductor shortage, automobile dealers’ body FADA said on Monday.
The passenger vehicle (PV) sales dropped to 2,58,329 units last month, down 10.12 per cent from 2,87,424 units in January 2021.
In spite of good demand, passenger vehicles continue to face the brunt of semiconductor shortage, resulting in the absence of a healthy inventory,” FADA President Vinkesh Gulati said in a statement.
Two-wheeler sales last month declined by 13.44 per cent to 10,17,785 units, compared to 11,75,832 units in January 2021.
Gulati said that rural distress coupled with price rise and omicron wave led to a drop in the sales in the segment.
Tractor sales stood at 55,421 units last month, down 9.86 per cent from 61,485 units in January 2021.
