In accordance to a report by India Rankings, the five for each cent sequential maximize in domestic car revenue volumes (excluding professional vehicles (CV)) in Oct 2021 was pushed by a demand recovery in passenger vehicles (PVs) and secure two-wheeler (2W) demand, aided by the festive year, and drop in every day Covid conditions, the resumption of physical attendance at educational establishments and workplaces, and continued shopper choice for personalized mobility.
Automobile revenue worst in ten yrs, but consumers want major-close trims
On the other hand, the expansion was constrained by an maximize in car or truck price ranges, owing to elevated raw content price ranges, and lessen creation stages on account of source chain concerns, particularly the shortage of semiconductor chips. The general creation and revenue volumes reduced by 22 for each cent calendar year-on-calendar year and 21 for each cent calendar year-on-calendar year, respectively, in Oct 2021.
Chip shortage effects on PV creation
Irrespective of the festive year, retail revenue for PVs and 2Ws fell by 11 for each cent YoY and six for each cent YoY owing to semiconductor shortage in PVs and lower demand for entry-degree 2W, respectively 3W and CV volumes elevated by 74 for each cent and 26 for each cent, respectively. The field continued to witness sequential expansion in Oct 2021, while it was moderated by lessen creation stages owing to source chain issues and lower shopper demand.
Car revenue skid all over again in Oct owing to chip shortage CV revenue up
India Rankings expects the semiconductor crisis to go on to effects PV creation volumes in November 2021. 2W volumes may stay reasonable owing to lower shopper demand in the entry-degree segment.