August 18, 2022
India’s passenger vehicle makers see double-digit growth amid improving chip shortage issue: Details

A correction in the semiconductor shortage issue helped auto makers, including Maruti Suzuki, Hyundai, Tata Motors and Mahindra & Mahindra, post a single to high double-digit growth in sales of their domestic passenger vehicles in July on Monday.

Other manufacturers, Kia India, Toyota Kirloskar Motor (TKM), Honda Cars India, Skoda Auto India also posted strong growth in their domestic passenger vehicle sales, with the auto industry achieving the highest number of passenger vehicle wholesales in July this year. have guessed. ,

Maruti Suzuki India said its domestic passenger vehicle sales grew 6.82 per cent last month to 1,42,850 units from 1,33,732 units in July 2021.

“The lack of electronic components had a minor impact on the production of vehicles, mainly in domestic models,” the company said in a statement.

The company’s sales were mainly driven by compact cars, including Baleno, Celerio, DZire, Ignis, Swift, Tour S and WagonR, which increased to 84,818 units in July 2022 from 70,268 units in the year-ago month .

Sales of mini cars – which include the Alto and S-Presso – increased to 20,333 units last month from 19,685 units in July 2021. However, sales of utility vehicles including Brezza, Ertiga, S-Cross and XL6 were down at 23,272 units. as compared to 32,272 units.

Shashank Srivastava, Senior Director (Marketing and Sales), MSI India said, “The industry’s total sales were over 3.42 lakh units last month as compared to 2.94 lakh units in July 2021. This is the highest ever wholesale figure in the industry. ” PTI.

The previous best wholesale was 3.34 lakh units in October 2020, he said, adding that this has been possible because of better production as the chip shortage has eased slightly.

He said the industry is expected to cross the sales mark of 37 lakh units in the current financial year, which is the highest ever.

Hyundai Motor India, another major player, said its domestic sales stood at 50,500 units last month, up 5.1 per cent as compared to 48,042 units sold in July 2021.

Tarun Garg, Director (Sales, Marketing and Service), HMIL said, “With the improving semiconductor situation, the passenger vehicle segment is showing a positive trend due to demand and customer preference towards personal mobility.”

Tata Motors reported a 57 per cent increase in its domestic passenger vehicle sales at 47,505 units as against 30,185 units in the year-ago month. The company’s passenger electric vehicle sales also increased from 604 units in July 2021 to 4,022 units last month, the company said.

Similarly, Mahindra & Mahindra reported 33 per cent growth in domestic passenger vehicle sales in July this year at 28,053 units as against 21,046 units in the same month last year, driven by its utility vehicles.

M&M’s domestic utility vehicle sales during the month stood at 27,854 units, up 34 per cent from 20,797 units in the year-ago month, while cars and vans sales were down 20 per cent at 199 units as compared to 249 units a year ago . ,

Vijay Nakra, President, Automotive Division, Mahindra & Mahindra said, “The supply chain situation remains dynamic, and we are monitoring the situation closely.”

Kia India also reported a 47 per cent increase in its wholesale sales to 22,022 units in July as compared to 15,016 units in July 2021.

Hardeep Singh Brar, Vice President and Head of Sales and Marketing, Kia India said that gradual improvement in the supply chain and constant demand for the brand is driving the growth of the company.

Another automaker Toyota Kirloskar Motor (TKM) reported its highest-ever dispatch of 19,693 units in a month in July. This was 50 per cent more than the 13,105 units sold in July 2021.

Skoda Auto also reported a 44 per cent increase in its wholesale sales at 4,447 units in July as compared to 3,080 units sold in July 2021.

“This is usually the period where major purchases are put on hold as it is the monsoon and postponed till the festive season begins. Still, we have seen solid numbers behind our made for India 2.0 cars , Kushak and Slavia,” said Zack Hollis, Brand Director, Skoda Auto India.

Honda Cars India reported a 12 per cent increase in domestic sales to 6,784 units last month.

The manufacturer of City and Amaze also exported 2,104 units last month.

The company had reported sales of 6,055 units in the domestic market and 918 units in the overseas markets in July last year.

MG Motor India, on the other hand, reported a 5 per cent decline in retail sales at 4,013 units in July as production was hit by supply chain constraints. The company had registered retail sales of 4,225 units in the same month last year.

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