India’s January vehicle production falls by 5.48%; sales down 4.71%

SINGAPORE (ICIS)–India’s overall vehicle production fell by 5.48% year on year to 1.96m units in January this year, with sales down by 4.71% at 1.7m units, industry data showed on Thursday.

The country’s production of two-wheelers, which accounts for 78% of overall vehicle output, fell by 8.4% to 1.53m units in January, according to the Society of Indian Automobile Manufacturers (SIAM).

Production of passenger vehicles rose by 13.3% year on year to 287,428 units while sales were 14.4% higher at 231,917 units, according to SIAM.

Overall exports of vehicles fell by 7.67% year on year to 276,517 units in January.

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).

ICIS produces a monthly Global Automotive report covering the major automotive chemicals markets, the auto-industry, the IBAPs and macroeconomic trends. For more information on the report and details on how to subscribe, please click here