TIWN
New Delhi, Dec 10 (TIWN) Curtailed production due to semiconductor shortage as well as high base effect dented India's domestic passenger vehicle (PV) sales on both year-on-year and sequential basis in November.
Besides, challenges pertaining to rising ownership costs due to commodity prices subdued buyers' sentiments. At present, semiconductors play a critical part in the production of internal combustion engines. They are an integral part of all kinds of sensors and controls in any vehicle. Lately, the shortage has extended waiting periods along with escalated prices. Accordingly, the sales of passenger vehicles fell to 215,626 units in November as compared to 264,898 units sold during the corresponding month of 2020. On a sequential basis, November's PV sales were lower than October's level of 2,26,353 units. The data furnished by the Society of Indian Automobile Manufacturers (SIAM) does not include sales figures from some key players such as Tata Motors. The PV sales data comprises cars, utility vehicles and vans.
- With April series having expired, expect markets to turn volatile
- IMF expects India to rev up global growth as China falters, backs Modi government's economic policies
- realme set to shake up market: Launching fastest entry-level 5G smartphone 'C65' under Rs 10k
- India's industrial production accelerates to 5.7pc in Feb
- India records 17 pc jump to become 4th largest exporter of digital services: WTO report