India’s June auto production was at 1.69mn units, including two-wheelers, passenger vehicles, three-wheelers and quadricycles, according to data released by the Society of Indian Automobile Manufacturers (SIAM).
As lockdowns eased, OEMs have resumed operations in a phased manner starting June. Additionally, the government has started to roll out fiscal stimulus for the worst-hit sectors which include wholesale and retail traders under MSMEs.
Steep commodity prices, semiconductor shortage and fear of a potential third wave of COVID-19 have acted as a headwind for the auto sector, according to Rajesh Menon, Director General, SIAM.
Total passenger vehicle production in June stood at 295,990 units, 175pc higher than those of the prior-year period. The production of three-wheelers and two-wheelers jumped by 58pc to 51,822 units and 41pc to 1.34mn units respectively. Thus cumulatively, India’s production in June jumped by 55pc to 1.69mn units in June as compared to the previous year.
Passenger vehicle sales in June have more than doubled to 231,633 units. The two-wheeler segment reported a modest growth of 4pc to 1.05mn units while three-wheeler sales faced degrowth of 9pc to 9,397 units as compared to the previous year. Total domestic sales increased by 14pc to 1.29mn units.