Current Affairs   »   Economy and Finance   »   Vehicle Dispatches Rise 21% As Chip...

Vehicle Dispatches Rise 21% As Chip Supply Improves

Passenger vehicle wholesales in India witnessed a 21 per cent annual growth in August, riding on improved supplies of semiconductors and festive demand, according to the Society of Indian Automobile Manufacturers. As per the latest data released by industry body Society of Indian Automobile Manufacturers (SIAM), passenger vehicle (PV) dispatches to dealers stood at 2,81,210 units last month, against 2,32,224 units in August 2021. Passenger car wholesales were up 23 per cent at 1,33,477 units last month, as against 1,08,508 units in the year-ago period, SIAM said.

Bank Maha Pack includes Live Batches, Test Series, Video Lectures & eBooks

Table of Contents

Growth So For:

Utility vehicle dispatches were higher by 20 per cent at 1,35,497 units in August, as compared to 1,12,863 units in the same month a year ago. Similarly, total two-wheeler wholesales increased to 15,57,429 units last month, compared to 13,38,740 units in the year-ago period, a growth of 16 per cent. Motorcycle wholesales grew by 23 per cent at 10,16,794 units in August 2022, as compared to 8,25,849 units in the year-ago month. Scooter sales were higher by 10 per cent at 5,04,146 units last month, as against 4,60,284 units in August 2021, SIAM said. Total three-wheeler sales rose to 38,369 units last month, against 23,606 units in August 2021, up 63 per cent. Sales across segments rose by 18 per cent to 18,77,072 units in August this year, from 15,94,573 units in the same month last year, SIAM said. Sales across segments rose by 18 per cent to 18,77,072 units in August this year, from 15,94,573 units in the same month last year, SIAM said.

Other Reasons:

The increase in dispatches from manufacturers to their dealers comes on the back of improvement in semiconductor shortage issues and also preparation to meet festive season demand. “While a good monsoon and the upcoming festive season is likely to increase demand, SIAM is keeping a close watch on the dynamic supply-side challenges,” SIAM Director General Rajesh Menon said in a statement. However, he said high CNG price is a big challenge for the industry and is looking forward to interventions and support from the government.

Find More News on Economy Here

Vehicle Dispatches Rise 21% As Chip Supply Improves_50.1

Vehicle Dispatches Rise 21% As Chip Supply Improves_60.1

Thank You, Your details have been submitted we will get back to you.

Leave a comment

Your email address will not be published. Required fields are marked *