Total passenger vehicle sales rise 185% YoY to 2,51,052 units in May: SIAM

Total passenger vehicle (PVs) sales in May 2022 rose 185 per cent year-on-year (YoY) to 251,052 units. In May 2021, 88,045 passenger vehicle units were sold, newly released data from industry body Society of Indian Automobile Manufacturers (SIAM) showed.

The total number of PVs sold in May 2022 surpassed the pre-pandemic level of May 2019, it said.

In May 2022, 251,052 passenger vehicles were sold against 226,975 units sold during the same month in 2019. However, passenger vehicle sales are still below the 2018 level. 

Meanwhile, three-wheeler sales jumped manifold to 28,542 units sold in May 2022 against 1,262 units sold in May 2021. While two-wheeler sales rose over 253 per cent to 1,253,187 units against 354,824 units sold in May 2021. 

Three-wheelers and two-wheelers sales are yet to surpass the pre-pandemic level of May 2019. In May 2022, 28,542 three-wheelers were sold against 51,650 units sold in the same month in 2019. In May 2022, 1,253,187 three-wheelers were sold against 1,725,204 units sold in the same month in 2019. 

All in all, 1,532,809 the Indian automobile industry recorded total sales of 1,532,809 units in May 2022. The industry is yet to breach the pre-pandemic level of 2,004,137 units sold in April 2019. However, the industry did register a 245 per cent Y-o-Y growth against 444,131 units sold in May 2020. 

“Sales of Two-Wheelers and Three-Wheelers continue to remain sluggish in the month of May 2022, as they are even below of what it was 9 years and 14 years ago, respectively. Sales of Passenger Vehicle segment are also still below 2018 level,” said Rajesh Menon, Director General, SIAM

“Recent Government interventions would help in easing of the supply-side challenges, but second hike in repo-rates by RBI and increase in 3rd Party Insurance Rates, could become more challenging for the customers, thereby impacting demand,” he added. 

So far in FY23, the Indian automobile industry has sold 502,703 passenger vehicles, 49,480 three-wheelers and 2,415,769 two-wheelers. Told units sold in FY23 currently stand at 2,968,006, a significant increase over 1,717,839 units sold during April-May 2021. However, still lower than the pre-pandemic level of 3,923,165 units sold in April-May 2019. 

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