Auto industry crippled by chip shortage, passenger vehicle sales down 8 percent in February

Auto industry crippled by chip shortage, passenger vehicle sales down 8 percent in February

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new Delhi. The bad effect of Chip Shortage has started showing on the auto industry. The Federation of Automobile Dealers Association (FADA), an organization of vehicle dealers, said on Friday that due to chip shortage, companies are continuously incurring production related losses, which led to 8 percent of domestic passenger vehicle retail sales in February. has declined. Passenger vehicle sales fell 7.84 per cent last month to 2,38,096 units from 2,58,337 units in February 2021.

FADA President Vinkesh Gulati said in a statement that some new vehicles in the passenger vehicle category have come in the market and better production has brought some relief but it is not enough to meet the demand of the customers. The waiting time for the vehicle remains the same as the last few months.

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Due to Ukraine conflict also impact on semiconductor production
FADA warned that semiconductor production could be further affected due to the Russia-Ukraine conflict. Last month, sales of two wheelers declined by 10.67 per cent to 9,83,358 units from 11,00,754 units in February 2021. Last month 50,304 tractors were sold which is 18.87 percent less than 62,004 tractors sold in February 2021.

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Growth in sales of commercial vehicles on a yearly basis
However, on the other hand, sales of commercial vehicles registered a growth of 7.41 per cent in this February as compared to the previous year. A total of 63,797 vehicles were sold last month as against 59,395 vehicles sold in the same month a year ago. Last month, a total of 13,74,516 vehicles of various types were retailed, which is 9.21 percent less than the 15,13,894 vehicles sold in February 2021.

Tags: auto news, Car Bike News

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