Passenger vehicle retail sales dip 11 % in Dec amid semiconductor woes
The Hindu
Two-wheeler sales also continued to remain in the slow lane last month.
Passenger vehicle retail sales in India witnessed an 11 % year-on-year decline in December as semiconductor shortage continued to impact the segment, automobile dealers' body FADA said on Wednesday.
The passenger vehicle (PV) retail sales last month fell 10.91 % to 2,44,639 units from 2,74,605 units in December 2020.
"The month of December is usually seen as a high sales month where OEMs continue to offer best discounts to clear the inventory due to change of the year. It was, however, not the case this time around as retail sales continued to disappoint, thus wrapping up an underperforming calendar year," FADA President Vinkesh Gulati noted.
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