India December car production falls 21.8%; sales down 18.7%

SINGAPORE (ICIS)–India’s total vehicle production in December fell by 21.8% year on year to 1.44m units, while domestic sales declined by 18.7% to 1.22m units, industry data showed on Tuesday.

Two-wheelers accounted for 74.7% of the total production and 74.5% of overall sales, according to the Society of Indian Automobile Manufacturers (SIAM).

Production of passenger vehicles in December grew by 2.13% year on year to 269,412 units, while sales fell by 1.36% to 227,824 units.

The automotive industry is a major global consumer of petrochemicals which contributes more than a third of the raw material costs of an average vehicle. ICIS tracks the movement of petrochemical raw material costs in auto production both globally and regionally with the weighted ICIS Basket of Automotive Petrochemicals (IBAP).

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