India Dec vehicle sales rise by 5.8%, production up by 9%
SINGAPORE (ICIS)–India’s total vehicle sales in December rose by 5.8% year on year to 1.91m units, industry data showed on Thursday.
Two-wheelers accounted for more than 80% of both sales and production for the month, according to data from the Society of Indian Automobile Manufacturers (SIAM).
Overall vehicle exports rose by 14.6% year on year in December.
“The market situation is dynamic and uncertain. Industry is facing a shortage of semiconductors, steel and shipping containers,” said Rajesh Menon, the director general of SIAM.
“There is also an impact of price increase of steel, logistics and other raw materials,” he said.
The automotive industry is a major global consumer of petrochemicals, which account for more than a third of the raw material costs of an average vehicle.