{"id":112051,"date":"2021-02-10T14:39:24","date_gmt":"2021-02-10T14:39:24","guid":{"rendered":"https:\/\/precoinnews.com\/?p=112051"},"modified":"2021-02-10T14:39:24","modified_gmt":"2021-02-10T14:39:24","slug":"why-auto-sales-in-january-hit-speed-brake","status":"publish","type":"post","link":"https:\/\/precoinnews.com\/business\/why-auto-sales-in-january-hit-speed-brake\/","title":{"rendered":"Why auto sales in January hit speed brake"},"content":{"rendered":"

Shortage of semiconductors, price hikes pull January auto sales into red. Dec had seen sales grow for 1st time this FY, which dealers called a one-off.<\/strong><\/p>\n

<\/strong><\/p>\n

Retail sales of automobiles dropped by around 10 per cent in January to 1,592,636 units (two-wheeler, three-wheeler, passenger vehicles or PVs, commercial vehicles or CVs, and tractors) from 1,763,011 units a year ago.<\/p>\n

This came just a month after retail sales grew for the first time this financial year in December, which dealers said was a one-off.<\/p>\n

The reasons for the drop in January, dealers said, were shortage of semiconductors, price hikes, fading demand, among others.<\/p>\n

Retail sales of PVs fell by around 4.5 per cent year-on-year (YoY) to 281,666 units in January, from 294,817 units a year ago.<\/p>\n

Two-wheeler sales declined 8.78 per cent to 1,163,322 units, compared with 1,275,308 units the previous year.<\/p>\n

Meanwhile, CV sales declined 24.99 per cent to 55,835 units, as against 74,439 units a year ago.<\/p>\n

Similarly, three-wheeler sales fell 51.31 per cent to 31,059 units, from 63,785 units a year ago.<\/p>\n

Vinkesh Gulati, president of the Federation of Automobile Dealers Associations (FADA), said: “The auto industry misjudged the demand post lockdown.<\/p>\n

“The industry’s underestimation of post-Covid rebound, along with chipmakers prioritising higher-volume and more lucrative consumer electronics market, has created a vacuum for semiconductors.<\/p>\n

“This has resulted in shortage in supply for all categories of vehicles, especially PVs, even though enquiry levels and bookings remained high.<\/p>\n

“New launches and SUVs continued to see high traction and helped in restricting the overall PV registrations fall by a bigger margin,” said Gulati.<\/p>\n

He said, the recent price hike announced by OEMs also added to woes, as two-wheelers have become more expensive.<\/p>\n

CV registrations were hit as vehicle financing has not returned to normal and the high cost of BS-VI vehicles.<\/p>\n

Last year, the auto industry was transitioning from BS-IV to BS-VI vehicles, and there were huge discounts on offer that led to higher sales and registrations.<\/p>\n

With a high base, continued shortage of semiconductors, and gradual opening of academic institutions, FADA remains guarded on projections for auto registrations in Q4, Gulati said.<\/p>\n

According to FADA, average inventory for PVs ranges from 10-15 days, while for two-Wheeler it is 30-35 days.<\/p>\n

The Budget stressed on Atmanirbhar Bharat, and it finally brought a smile to the auto industry as its age-old demand of bringing in a vehicle scrappage policy (voluntary) saw light of day.<\/p>\n

This and the announcements on inducting more buses for public transport, increased infrastructure spending, and building national highways will play a pivotal role in reviving the CV segment, Gulati said.<\/p>\n

Photograph: B Mathur\/Reuters<\/strong><\/p>\n

Source: Read Full Article<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

Shortage of semiconductors, price hikes pull January<\/p>\n","protected":false},"author":3,"featured_media":112050,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[23051],"tags":[],"yoast_head":"\nWhy auto sales in January hit speed brake - Pre Coin News<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/precoinnews.com\/business\/why-auto-sales-in-january-hit-speed-brake\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Why auto sales in January hit speed brake - Pre Coin News\" \/>\n<meta property=\"og:description\" content=\"Shortage of semiconductors, price hikes pull January\" \/>\n<meta property=\"og:url\" content=\"https:\/\/precoinnews.com\/business\/why-auto-sales-in-january-hit-speed-brake\/\" \/>\n<meta property=\"og:site_name\" content=\"Pre Coin News\" \/>\n<meta property=\"article:published_time\" content=\"2021-02-10T14:39:24+00:00\" \/>\n<meta name=\"author\" content=\"mediabest\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:image\" content=\"https:\/\/precoinnews.com\/wp-content\/uploads\/2021\/02\/cfntalkfoto10auto3.jpg\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"mediabest\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\/\/precoinnews.com\/business\/why-auto-sales-in-january-hit-speed-brake\/\",\"url\":\"https:\/\/precoinnews.com\/business\/why-auto-sales-in-january-hit-speed-brake\/\",\"name\":\"Why auto sales in January hit speed brake - 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