Indian Market Sentiment Improves in 2021
New models help drive sales recovery, impact of COVID-19 and chip crisis remains
|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.
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