India’s passenger car makers see double-digit growth amid improving chip shortage problem: Details
Improving the semiconductor shortage problem has helped automakers, including Maruti Suzuki, Hyundai, Tata Motors and Mahindra & Mahindra, report one- to two-digit growth on Monday in sales. their domestic passenger vehicle in July.
Other manufacturers, Kia IndiaToyota Kirloskar Motor (TKM), Honda Cars India, Skoda Auto Indiaalso reported strong growth in their domestic passenger car sales with the auto industry estimated to have achieved its highest ever passenger car wholesale level in July this year.
Maruti Suzuki India said its domestic passenger car sales rose 6.82% last month to 1,42,850 units from 1,33,732 units in July 2021.
The company said in a statement: “The shortage of electronic components has had a significant impact on vehicle production, mainly in domestic models.
The company’s sales are largely driven by compact vehicles, which include the Baleno, Celerio, Dzire, Ignis, Swift, Tour S and WagonR, which increased to 84,818 units in July 2022 from 70,268 units the previous month.
Sales of small cars – including the Alto and S-Presso – rose to 20,333 units last month, up from 19,685 units in July 2021. However, sales of utility vehicles – including the Brezza, Ertiga, S-Cross and XL6 – lower at 23,272 units compared to 32,272 units.
“Industry sales totaled more than 3.42 thousand units last month compared to 2.94 thousand units in July 2021. This is the highest wholesale number we have ever seen in the industry,” said the director. Senior (Marketing and Sales) MSI India Shashank Srivastava said PTI.
He added that the previous best wholesale sales stood at 3.34 lakh units in October 2020, possibly due to better production as chip shortages eased a bit.
The industry is expected to pass the 37,000-unit sales mark this fiscal year, which would be the highest ever, he noted.
Another major player, Hyundai Motor India, said its domestic sales stood at 50,500 units last month, 5.1% higher than the 48,042 units sold in July 2021.
HMIL (Sales, Marketing & Service) Director Tarun Garg said: “With the improvement in the semiconductor situation, the passenger vehicle segment is showing a positive trend based on the green shoots of lost demand. pent-up and customer desire for personal mobility,” said HMIL (Sales, Marketing & Service) Director Tarun Garg.
Tata Motors reported a 57% increase in domestic passenger car sales to 47,505 units from 30,185 units in the previous month. The company’s sales of passenger electric vehicles also increased to 4,022 units last month from 604 units in July 2021, the company said.
Similarly, Mahindra & Mahindra reported domestic passenger car sales in July this year increased 33% to 28,053 units compared to 21,046 units in the same month last year, thanks to its utility vehicles.
M&M’s domestic multi-purpose vehicle sales for the month stood at 27,854 units, compared with 20,797 units in the previous month, up 34%, while sales of cars and trucks fell 20% at 199 units, compared with 199 units. with 249 a year ago. .
“The supply chain situation continues to remain dynamic and we are monitoring the situation closely,” said M&M President, Automotive Division, Veejay Nakra.
Kia India also reported a 47% increase in its wholesale sales to 22,022 units in July from 15,016 units in July 2021.
The gradual improvement in the supply chain and continued demand for the brand are fueling the company’s growth, said Kia India Vice President and Head of Sales and Marketing Hardeep Singh Brar. know.
Another automaker, Toyota Kirloskar Motor (TKM) reported its highest ever shipments for a month with 19,693 units in July. This is 50% higher than the 13,105 units it sold in July 2021.
Skoda Auto also reported its wholesale sales increased 44% to 4,447 units in July compared with 3,080 units sold in July 2021.
“This is usually a time when big purchases are put on hold because it’s monsoon and postponed until the festive season kicks in. We’ve hit solid numbers behind those, however. Our India production INDIA 2.0 vehicle, Kushaq and Slavia”, said Zac Hollis, Brand Manager Skoda Auto India.
Honda Motor India reported a 12% increase in domestic sales last month to 6,784 units.
Manufacturer City and Amaze also exported 2,104 units last month.
The company reported selling 6,055 units in the domestic market and 918 units in the overseas market last July.
On the other hand, MG Motor India reported a 5% drop in retail sales at 4,013 units in July as production activities were affected by supply chain constraints. The company registered retail sales of 4,225 units in the same month last year.