Automotive wheel rims manufacturer Steel Strips Wheels Limited’s (SSWL) total wheel rim sales rose by 112.4pc to 1.673mn units in March, compared to March 2020, according to a company release. On a month-on-month basis, the company’s sales volume grew by 200pc and is expected to maintain this uptrend.
Truck wheel segment clocked the highest volume of sales in March — by 497pc from the year prior — followed by alloy wheel sales and exports, which jumped 238pc and 221pc, respectively.
Passenger Vehicle segment grew by 93pc in March from the prior year period, witnessing a continued uptick in demand that is likely to continue in FY2022 as well.
The sales volumes for commercial vehicles surged by 497pc over the prior year. The company expects the volumes to trend up in FY2022 aided by the scrappage policy.
Two- and three-wheeler segment registered a 28pc increase on yearly basis and 7pc increase on month-on-month basis in March, with gradual growth expected in this fiscal year.