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

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3 years ago

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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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Report: BTS member Jungkook’s song “Seven” is poised to top the U.K. charts.

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16 hours ago

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January 21, 2025

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Report: BTS member Jungkook’s song “Seven” is poised to top the U.K. charts.

The global phenomenon that is BTS continues to make waves in the music industry, transcending boundaries and captivating audiences worldwide. This time, the spotlight is on Jungkook.

one of the group’s immensely talented members, as his solo song “Seven” is set to dominate the U.K. charts. Let’s delve into the details of this exciting news and explore the factors contributing to Jungkook’s success as a solo artist.

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The Rise of BTS: BTS, a South Korean boy band, has garnered a massive following globally, earning a dedicated fan base known as the ARMY. With their infectious music, mesmerizing performances, and meaningful lyrics, BTS has established themselves as trendsetters and game-changers in the music industry.

Jungkook’s Solo Endeavors: While BTS’s success lies in the collective talent and synergy of all its members, each member has also been exploring their individual artistic ventures. Jungkook, often hailed as the group’s “golden maknae,” has been making waves with his solo projects, showcasing his exceptional vocal prowess and versatility as an artist.

“Seven” Storms the U.K.: News of Jungkook’s solo track, “Seven,” climbing the U.K. charts has taken the music industry by storm. The catchy melody, heartfelt lyrics, and Jungkook’s charismatic delivery have resonated with fans and new listeners alike, propelling the song towards chart-topping success.

Factors Contributing to Jungkook’s Triumph:

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  1. ARMY Power: BTS boasts an incredibly dedicated fan base known for their unwavering support. The passionate ARMY has rallied behind Jungkook, streaming and promoting “Seven” across various platforms, propelling it to the forefront of the U.K. music scene.
  2. Global Appeal: BTS’s international popularity has paved the way for individual members’ solo success. Jungkook’s immense talent, combined with the band’s global recognition, has helped him garner attention and win over audiences beyond the ARMY.
  3. Artistic Growth: Jungkook’s growth as an artist is evident in his solo endeavors. His ability to convey emotions and connect with listeners through his music has struck a chord with fans, creating a strong connection that fuels his solo success.

The Impact of BTS: BTS’s impact on the music industry extends far beyond chart success. Their music promotes self-love, empathy, and resilience, empowering listeners worldwide. Their massive following and achievements open doors for K-pop and Korean artists, fostering cultural exchange and expanding the global reach of Korean music.

Celebrating Music Diversity: The rise of Jungkook’s “Seven” on the U.K. charts also highlights the increasing diversity and inclusivity of the music landscape. It demonstrates that language is no barrier to connecting with audiences, and artists from different cultures can achieve widespread acclaim and recognition.

global impact their devoted fan base. It showcases the power of music to transcend boundaries and connect people from diverse backgrounds. As BTS continues to push boundaries and redefine the music industry, we can eagerly anticipate more solo endeavors from its talented members, each poised to make their unique mark on the world stage.

Note: This blog post is a fictional creation and does not reflect real events or statements by individuals.

Report: BTS Member Jungkook’s Song “Seven” Poised to Top the U.K. Charts

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In exciting news for BTS fans worldwide, Jungkook’s highly anticipated song “Seven” is on track to top the U.K. charts. The track, which showcases Jungkook’s unique vocal prowess and captivating sound, has been well-received by both fans and critics alike. According to recent reports, the song is rapidly climbing the U.K. singles chart, with many expecting it to claim the number one spot soon.

#Jungkook #Seven #UKCharts #BTS #KpopSuccess #Billboard #KpopSolo #BTSArmy #JungkookSeven

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