Indian Market Sentiment Improves in 2021
New models help drive sales recovery, impact of COVID-19 and chip crisis remains
2022/07/15
- Summary
- Passenger cars sales in 2021
- Medium-term trends in the passenger car market
- Passenger car market segment structure
- OEM analysis of passenger car market
- New model launches
- Investment and partnership announcements by major OEMs
- Production Forecast by LMC Automotive: Indian light vehicle production will reach 5.2 million units in 2025
Summary
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| Passenger vehicle sales in India (Source: MarkLines Data Center) |
Although 2020 was one of the worst years for the Indian automotive industry, 2021 was marked by a number of positive developments for the Indian passenger car market. In 2021, India’s passenger vehicle market reported better sales performance compared to 2020, but sales volumes have yet to surpass pre-COVID-19 pandemic levels.
The increase in new model launches helped boost the sales of the Indian automotive market and improved overall sales performance in 2021. However, the semiconductor crisis, an increase in purchasing/material costs, volatile fuel prices, tight liquidity, and the impact of the resurgence of COVID-19 affected the sale of cars nationwide in India.
Related reports:
Indian Market Transitioning Towards Electric Mobility (Jul. 2022)
Indian Electric Two-wheelers: 64 companies (Apr. 2022)
Decarbonization - Global agreement at COP26 and its deployment to regions/OEMs (Jan. 2022)
Suzuki: Intensive R&D of electrification technology by 2025, investing JPY 1 trillion (Dec. 2021)
India: Automotive sales impacted by Covid-19 (Mar. 2021)
CASE Development in India (Part 1): Electrification (Feb. 2021)
CASE Development in India (Part 2): Mobility (Feb. 2021)
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