Auto wholesales plunge 11% in August because of proceeded with chip shortage, high commodity costs

Upwards of 1,08,508 units of traveler vehicles were sold in August 2021, car industry body SIAM (Society of Indian Automobile Manufacturers) information on vehicle wholesale shows. PV sales declined in August 2021, when contrasted with August last year when auto firms sold 1,24,715 units. The semi-conductor deficiency and high commodity costs are the essential drivers for the decrease in sales when contrasted with a similar period last year.

The total production of PVs, three-wheelers, two-wheelers and quadricycle remained at 19,84,676 units. The domestic auto wholesale for August, nonetheless, declined 11.7 percent to 15.8 lakh units when contrasted with 17.9 lakh units sold in the domestic market in August last year. The complete factory dispatches fell to 19.8 lakh units versus 21.6 lakh units sold in August last year.

Rajesh Menon, Director General, SIAM said the Indian Automobile Industry is reeling under tension because of supply chain challenges. “The global semi-conductor shortage continues and now it is having an acute impact on output across the auto industry. In addition, high commodity prices are increasing the cost of production.”

Declaring the automobile industry sales figures, SIAM tweeted a total of 2,32,224 PV units were sold in August’21. Auto organizations in India sold 10,853 vans, 23,210 units of three-wheelers and 1,12,863 utility vehicles.

According to the SIAM information, 13,31,436 units of two-wheelers were sold and 51,204 PV units were sent out in August’21. The organizations sent out 36,915 three-wheelers and 3,72,293 two-wheelers.

The vehicle retail numbers for August, released by the Federation of Automobile Dealers Associations (FADA), additionally brought mixed tidings for every one of the categories. Total vehicle sales for August rose 14.48 percent over last year. While retails were still somewhere near – 14.75 percent when contrasted with August 2019, the gradual pickup is much the same as a sliver of expectation.

Disclaimer: The views, suggestions, and opinions expressed here are the sole responsibility of the experts. No Economy Bee journalist was involved in the writing and production of this article.

Howard Reid
Howard Reid began his career writing a family newspaper. He has successfully authored many news articles. He is perhaps best known, however, as the author, much beloved for her warmth, encouraging attitude, and sense of humor. He is crazy about internet surfing. He finds interest in news reading and trending market research fads. He writes news on the markets category and publishes it on Economy Bee.

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