Passenger vehicle sales are at 7-year lows and two-wheelers are at 11-year lows

Mumbai: November has been a frustrating month for the automotive industry. Passenger vehicle sales in November were the lowest in three years and two-wheelers in 11 years. The main reason for the decline in vehicle sales is the shortage of semiconductors and consequently low manufacturing by companies.

According to the Society of Indian Automobile Manufacturers (SIAM), passenger vehicle sales in November fell by 12 per cent year-on-year to 5,13,8 units. In which car sales fell by 3% to 1,00,308 units.

Similarly, total sales of two-wheelers fell by 9 per cent to 10,50,612 units in November from 12,00,8 two-wheelers in the same month a year ago. Sales of scooters fell by 3% to 2,09,8 units and sales of motorcycles fell by 9% to 2,8,8 units.

This time, the sales of three-wheelers have also come down to 7,51 units, down 6 per cent from 2,051 units a year ago, which is the lowest sales in the last 15 years.

With this, the total sales of all types of vehicles in November fell by 3% year-on-year to 13,8,8 units as against 12,8,8 units in the same month a year ago. The head of SIAM said that the auto industry has been facing adverse conditions for more than a year now due to the shortage of semiconductors worldwide.

The automotive industry was hoping to make up for the shortfall during the festive season, but the disappointing November sales have dashed hopes.