Higher acquisition cost, supply side constraints subdue March auto sales

Higher acquisition cost, along with supply side constraints, subdued India's domestic auto sector sales in March 2022 on a year-on-year basis.

The dat, furnished by the Society of Indian Automobile Manufacturers (SIAM) showed that sales of passenger vehicles fell to 279,501 units in March as compared to 290,939 units sold during the corresponding month of 2021.

Segment-wise, a total of 138,031 passenger cars were sold in the domestic market in March, down from 156,985 units sold in the like period of 2021. However, UV sales rose to 132,032 units from 122,350 units, while, on the other hand, the off-take of vans declined to 9,438 units from 11,604 units in the year-ago period.

As per the data, two-wheelers' sales were lower in March 2022 at 1,184,210 units from 1,496,806 units sold in the same month of 2021.