Connect with us

Business

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

Published

3 years ago

on

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.

Advertisement

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.

Advertisement

“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.

Advertisement

“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.

Advertisement

“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

Advertisement
Related Topics:
Continue Reading

$92.8 million

Akshay Kumar wishes director Priyadarshan on birthday with Bhooth Bangla BTS pic: ‘Surrounded by ghosts…

Published

3 weeks ago

on

January 30, 2025

By

Akshay Kumar wishes director Priyadarshan on birthday with Bhooth Bangla BTS pic: ‘Surrounded by ghosts…

Akshay Kumar and Priyadarshan, the acclaimed Indian director, celebrated their 68th birthday on Instagram. Kumar, who has worked with Priyadarshan on several cult comedies of the early 2000s, wished him a happy birthday and called him a mentor. The duo is now back together for their upcoming horror-comedy, Bhooth Bangla.

The first poster of the movie has been released, and it is expected to hit theaters in 2025. Akshay Kumar wore a black fedora and a green jacket, layered over a black tee, and fans have expressed their excitement for their new movie.

Advertisement

The duo’s dynamic and deep bonding have been praised by fans, who have expressed high anticipation for their new movie. The first poster of Bhooth Bangla has already been released, and the movie is expected to hit theaters in 2025.

Akshay Kumar, the versatile Bollywood actor, recently celebrated director Priyadarshan’s birthday by sharing a behind-the-scenes (BTS) photograph from their upcoming film, “Bhooth Bangla.” In the image, Akshay humorously captioned, “Surrounded by ghosts…” The photo features Akshay alongside Priyadarshan and co-actor Paresh Rawal, all dressed in traditional attire, with a black cat perched on Akshay’s shoulder, adding a whimsical touch to the scene.

Reunion After 14 Years

This collaboration marks a significant reunion between Akshay Kumar and Priyadarshan, who last worked together on the film “Bhool Bhulaiyaa” in 2007. Their partnership has been celebrated in the past for delivering successful comedies like “Hera Pheri” and “Garam Masala.” Fans have eagerly anticipated their return to the big screen together, and “Bhooth Bangla” promises to be a delightful addition to their repertoire.

Advertisement

About ‘Bhooth Bangla’

“Bhooth Bangla” is a horror-comedy that blends elements of suspense with humor, a genre in which both Akshay Kumar and Priyadarshan have excelled. The film is produced by Balaji Telefilms Ltd in association with Cape of Good Films. The motion poster released earlier this year features Akshay Kumar in a suit, with a cat on his shoulder, licking milk slyly, setting the tone for the film’s intriguing and humorous premise.

instantbollywood.com

Anticipation and Fan Reactions

Advertisement

The BTS photo shared by Akshay Kumar has generated excitement among fans, who are eager to see the trio back together on screen. The playful caption and the presence of the black cat suggest that “Bhooth Bangla” will offer a mix of thrills and laughs, staying true to the successful formula of their previous collaborations.

As the release date for “Bhooth Bangla be a significant highlight in the upcoming entertainment lineup. The reunion of Akshay Kumar, Priyadarshan, and Paresh Rawal, combined with the intriguing premise and the playful BTS moments, has set high expectations among audiences. Fans can look forward to a cinematic experience that promises both chills and chuckles.

For a visual glimpse into the making of “Bhooth Bangla,” you can watch the following video Akshay Kumar expressed his gratitude as they once again united for their upcoming movie Bhooth Bangla. This marks a new chapter in their long-standing collaboration since the 2000s. He shared a picture from behind the scenes of their new movie, where it seems like they are laughing about something.

Akshay wrote,”Happy Birthday, Priyan Sir! What better way to celebrate than by spending the day on a haunted set, surrounded by ghosts…both real and unpaid extras? Thank you for being a mentor, and the only person who can make chaos look like a masterpiece. May your day be filled with fewer retakes. Wishing you a fantastic year ahead!”

Advertisement

Group Media Publications
Entertainment News Platforms – anyflix.in      
Construction Infrastructure and Mining News Platform – https://cimreviews.com/
General News Platform – https://ihtlive.com/
Legal and Laws News Platforms – https://legalmatters.in/
Podcast Platforms – https://anyfm.in/

Continue Reading
Anyskill-ads

Facebook

Trending