Passenger vehicle wholesales in India down 41% in September on chip shortage: SIAM

Passenger vehicle (PV) wholesales in India decreased by 41 percent in September, said auto industry body Society of Indian Automobile Manufacturers (SIAM) on Thursday. While Hero Moto’s production was down 32 percent, Royal Enfield was down 62 percent year-on-year, SIAM said.

Bajaj Auto production decreased by 5 percent and TVS production fell by 1.4 percent, as per the data.

The total PV production was 37.5 percent down, while two-wheelers were down by 17 percent y-o-y. The PV wholesale dispatches were down 41 percent and two-wheelers were down by 17 percent y-o-y.

SIAM president said that despite revival, companies curtailed production plans as chip shortage remains a major concern.

"High raw material prices continue to pose a challenge," the president said.