However, total domestic vehicle sales grew nearly 77% in March – albeit on a lower basis – to 13.6% in FY15 on an annual basis, to around 1.86 crore units, data from the Society of Indian Automobile Manufacturers (SIAM) showed.
In March 2021, more than double passenger vehicles exceeded 2.9 lakh units from a year earlier. Similarly, two-wheeler sales grew by 72% to over 14.96 lakh units in the month.
Total sales in March increased from 10.29 lakh units to 18.19 lakh units. The data did not include the numbers of Tata Motors. For FY21, passenger vehicle sales fell 2.24% to 27.11 lakh units. Sales of commercial vehicles declined by 20.8% to 5.68 lakhs.
“A deep structural slowdown in the industry even before the epidemic, combined with the impact of COVID-19 [FY21]Has pushed all vehicle segments back over the years. Recovery… will require time and effort by all stakeholders, ”said SIAM President Kenichi Ayukawa.
He said there was uncertainty due to semiconductor shortages, lockdowns and input costs.
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