On sales outlook, Ayukawa stated even though the business anticipated 2021 to be improved than 2020, it remained hard to predict the future with the pandemic nevertheless there.
Although sales of passenger autos (PVs) and two-wheelers grew in December as also in the October-December quarter, April-December saw practically each and every segment of the auto sector report a year-on-year decline. Sales of PVs dropped to a 10-year low in the course of the nine-month period.
“We are at a seven-year low in the two-wheeler segment and a ten-year low in PVs. We are behind ten years in the commercial vehicle segment and 20 years for three-wheelers. This means the auto industry will have to work hard to regain better volumes and business health,” Society of Indian Automobile Manufacturers (Siam) president Kenichi Ayukawa told reporters in a virtual press conference on Thursday. Ayukawa stated 2019-20 fiscal had been a year of major de-development for the auto business, so applying it as the base to calculate percentage development for the present fiscal would be misleading.
“The sales growth we saw during October-December quarter of the current fiscal contains some of the pent up demand from the first quarter, so standalone sales performance of the third quarter may not be a true reflection of the industry’s overall sales,” Ayukawa stated, adding that alternatively, cumulative sales from April-December 2020 would improved reflect the market place pulse.
On sales outlook, Ayukawa stated even though the business anticipated 2021 to be improved than 2020, it remained hard to predict the future with the pandemic nevertheless there.
During the October-December quarter, passenger automobile sales improved 14.44% y-o-y and two-wheeler sales rose 13.37%. However, industrial automobile sales saw a dip of 1.12%. Vehicle sales across categories rose by 10.61%.
However, the nine-month period of April-December shows a contrasting situation. PV sales was down by 16.06%, two-wheeler sales saw a decline of 22.63% and CV sales witnessed a decline of 37.23%. Vehicle sales across categories declined by 24%.
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