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Passenger vehicle retail sales drop 10% in Jan due to chip shortage: FADA

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Passenger vehicle retail sales drop 10% in Jan due to chip shortage: FADA

Retail sales of passenger cars fell 10% in January 2022 from a year earlier as companies continued to suffer production losses due to semiconductor shortages, auto dealer agency FADA said on Monday.

Passenger vehicle (PV) sales fell to 2,58,329 units last month, down 10.12% from 2,87,424 units in January 2021.

“Despite good demand, passenger cars are bearing the brunt of semiconductor shortages, resulting in low inventories,” FADA President Vinkesh Gulati said in a statement.

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Two-wheeler sales fell 13.44% to 10,17,785 units last month, compared to 11,75,832 units in January 2021.

Rural woes coupled with rising prices and a wave of omicron have led to lower sales in the segment, Gulati said.

Tractor sales were 55,421 units last month, down 9.86% from 61,485 units in January 2021.

However, commercial vehicle sales rose 20.52% to 67,763 units last month, compared to 56,227 units a year earlier.

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“As the economy recovers, the commercial vehicle segment continues to show year-on-year growth, especially in the HCV category. The overall CV segment maintains momentum as central and state governments increase infrastructure spending,” Gulati noted.

Retail sales of tricycles also increased by 29.8% to 40,449 units in January 2022, compared to 31,162 units a year ago.

Total sales in each category fell 10.69% to 14,39,747 units last month from 16,12,130 units in January 2021.

Gulati noted that retail sales will slowly turn positive as the Omicron wave wanes.

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“Semiconductor shortages are also showing some signs of easing as many PV OEMs promise better scheduling. Therefore, we expect vehicle availability to improve further,” he noted.

With the federal budget emphasising the development of 25,000 kilometers of new highways, it will further boost infrastructure spending, thereby increasing commercial vehicle sales, Gulati said.

“Rural India has been a major driver of the two-wheeler and entry-level passenger vehicle market. The government plans to pay farmers Rs 2.3 crore MSP directly, which can be sold as two-wheelers, tractors and entry-level PV,” he said. added.

Gulati noted that the upcoming wedding season will also trigger some demand recovery in the two-wheeler market.

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“Overall, FADA changed its outlook from ‘negative neutral’ to ‘neutral’ over the next few months,” he said.

The Federation of Automobile Dealers Associations (FADA) said it has collected data from 1,386 of the 1,597 RTOs nationwide.

Complete News Source : Business Standard

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Laid stars Stephanie Hsu and Zosia Mamet reveal the worst gifts their romantic partners gave them | Exclusive

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Laid stars Stephanie Hsu and Zosia Mamet reveal the worst gifts their romantic partners gave them | Exclusive

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Stephanie Hsu and Zosia Mamet talk about their new series Laid, and some of the horrors of dating as millennials.
Imagine a scenario where anyone and everyone you have ever been intimate with begins to die one by one. Is it a curse? If yes, then who is cursed? These are questions that Stephanie Hsu‘s Ruby battles with in the new zany comedy, Laid. Ahead of the show’s release, Stephanie and co-star Zosia Mamet spoke exclusively with HT about their roles, the show’s unique premise, and the horrors of dating as millennials. (Also read: Dune: Prophecy star Emily Watson on working with Tabu: ‘She is a true treasure’)

Stephanie Hsu on her character’s flawed morality

Laid, created by Nahnatchka Khan and Sally Bradford McKenna, is the story of Ruby (Stephanie Hsu), who discovers that all her sexual partners are dying one by one, and she must warn them. Helping her in this unique quest is her best friend AJ (Zosia). The fun thing about Laid is that the protagonists are not the usual likeable characters. “She is totally an anti-hero of our story. I really love that,” says Stephanie, referring to Ruby’s moral greyness. “I am not a perfect person and I love playing flawed characters. But it was difficult. The creators told me that she is a total narcissist. But narcissists don’t think they are one, so I had to figure out a way to love her. For me, playing Ruby was about getting into her psychology and finding the innocent part of her – which is that she just wants love,” the actor adds.

While sitcoms usually add the best friend as the voice of reason trope, Laid diverges from that, with AJ even zanier and more morally ambiguous than Ruby. Talking about playing such a colourful character, Zosia Mamet says, “When you play not-so-likable or zany characters, people don’t believe they are that way. I don’t think AJ wakes up every morning and thinks, ‘I am absolutely crazy’. It’s about trusting the writing and finding an organic way into these characters to make them seem grounded, real, and relatable.”

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Stephanie, Zosia reveal the worst gifts they received from partners

In Laid, Ruby gives the gift of death to the men she is with, even if that is inadvertent. Ask the women about the worst ‘gift’ a partner has ever given them, and the discussions veer into the unusual horrors of modern-day dating. “I got a vintage wooden duck decoy from someone. It was broken, and I thought, ‘What does this say about our relationship?’. They didn’t know me well enough to know if I’d want this but also that they gave me something old and ailing,” Zosia says with a laugh.

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