Passenger vehicle dispatches to dealers from manufacturers stood at 2,51,052 units in May this year, according to the Society of Indian Automobile Manufacturers (SIAM).
The wholesale numbers in May 2021, when dispatches were badly hit due to the second wave of the pandemic, stood at 88,045 units.
According to the data released on Friday, two-wheeler sales during the month stood at 12,53,187 units as against 3,54,824 units in May 2021, while total three-wheeler sales were 28,542 units as against 1,262 units in the same month of the previous year.
“Sales of two-wheelers and three-wheelers continued to remain sluggish in the month of May 2022 and below of what it was 9 years and 14 years ago, respectively,” said SIAM Director General Rajesh Menon. “Sales in the passenger vehicle segment are also still below the 2018 level,” he added.
Mr. Menon said that recent government interventions would help in easing of the supply side challenges, but a second hike in repo rates by the RBI and increase in third party insurance rates could make it more challenging for consumers, thereby impacting demand.
The total production of passenger vehicles – excluding sales of BMW, Mercedes, Tata Motors and Volvo Auto – three wheelers, two wheelers, and quadricycles in May 2022 was 19,65,541 units, SIAM added.