New Delhi: The passenger vehicle segment clocked a growth of 11.14% in January 2021 at 276,554 units, thus remaining in the positive territory for the sixth straight month, against 248,840 units in the corresponding month a year ago, according to the latest data released by the Society of Automobile Manufacturers (SIAM).
The year-on-year recovery is attributed to pent-up demand and sustained preference for personal mobility.
However, SIAM said the passenger vehicle segment in January 2021 clocked a CAGR of only 1.61% over the previous highest sales in January 2018 at 2.64 lakh, while in January 2020 the total sales were lower at 2.49 lakh.
| Segment | Domestic Sales (In Units) Jan 2021 |
Domestic Sales (In Units) Jan 2020 |
% Change |
| PV | 2,76,554 | 2,48,840 | 11.14 |
| 2W | 14,29,928 | 13,41,005 | 6.63 |
| 3W | 26,335 | 60,903 | -56.76 |
| Total | 17,32,817 | 16,50,812 | 4.97 |
Source: SIAM
Two-wheeler volumes rose in January 2021 by 6.63% to 1,429,928 units, compared to 1,341,005 units in January 2020. While motorcycle sales increased 5.1% to 916,365 units as against 871,886 in January 2020, scooter sales were up 9.06% at 454,315 units from 416,567 units a year ago.
The two-wheeler segment also witnessed a de-growth of (-) 5.32% CAGR from the highest sales in January 2018 of 16.85 lakh, while in January 2020, the sales of two-wheelers were at 13.41 lakh.
Three-wheeler sales, however, declined by 56.76% to 26,335 units compared with 60,903 units in January last year, primarily on account of lower off-take of passenger three-wheelers.
Total vehicle sales increased by 4.97% to 1,732,817 units last month as against 1,650,812 units in the year ago period.
About the January 2021 data, Rajesh Menon, Director General, SIAM, said, “Supply chain challenges including rising price of steel, unavailability of semiconductors and higher container charges continue to be obstacles in the smooth functioning of the industry.”