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Car makers log 2-digit sales growth in July
Car makers log 2-digit sales growth in July
With improvement in chip situation, passenger vehicle segment is showing positive trends riding on the green shoots of pent-up demand and customer desire towards personal mobility
New Delhi: Improvement in semiconductor shortage issue helped auto makers, including Maruti Suzuki, Hyundai, Tata Motors and Mahindra & Mahindra, report single to high double-digit growth on Monday in their domestic passenger vehicles sales in July.
Other manufacturers, Kia India, Toyota Kirloskar Motor (TKM), Honda Cars India, Skoda Auto India, also reported robust growth in their domestic passenger vehicle sales with the auto industry estimated to have achieved the highest-ever passenger vehicle wholesales in July this year. Maruti Suzuki India said its domestic passenger vehicle sales rose 6.82 per cent last month to 1,42,850 units compared to 1,33,732 units in July 2021.
"The shortage 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 driven mainly by compact cars, including Baleno, Celerio, Dzire, Ignis, Swift, Tour S, and WagonR, which rose to 84,818 units in July 2022 from 70,268 units in the year-ago month. Sales of mini cars - comprising Alto and S-Presso - grew to 20,333 units last month, up from 19,685 units in July 2021. However, sales of utility vehicles - including Brezza, Ertiga, S-Cross and XL6 - were lower at 23,272 units compared to 32,272 units.
"The overall industry sales stood at over 3.42 lakh units last month as compared with 2.94 lakh units in July 2021. This is the highest wholesale figure we have ever seen in the industry," MSI India Senior Director (Marketing and Sales) Shashank Srivastava said. The previous best wholesales stood at 3.34 lakh units in October 2020, he said, adding, it has been possible due to better production as chip shortage eased a bit. The industry is expected to cross 37 lakh unit sales mark this fiscal, which is going to be the highest ever, he noted. Another major player Hyundai Motor India said its domestic sales were at 50,500 units last month, 5.1 per cent higher than 48,042 units sold in July 2021. "With the improvement in the semiconductor situation, the passenger vehicle segment is showing positive trends riding on the green shoots of pent-up demand and customer desire towards personal mobility," HMIL Director (Sales, Marketing & Service) Tarun Garg said.
Tata Motors posted a 57 per cent increase in its domestic passenger vehicles sales at 47,505 units as compared to 30,185 units in the year-ago month. The company's passenger electric vehicle sales also rose to 4,022 units last month from 604 units in July 2021, the company said. Similarly, Mahindra & Mahindra Ltd reported a 33 per cent increase in domestic passenger vehicles 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.
