India’s Passenger Vehicle Makers See Double Digit Growth in July: Details
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 percent 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 told PTI.
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 percent 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 percent 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 reported a 33 percent 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.
M&M’s domestic utility vehicle sales during the month were at 27,854 units, as against 20,797 units in the year-ago month, up 34 percent, while sales of cars and vans were down 20 percent at 199 units, as compared to 249 units a year ago.
“The supply chain situation continues to remain dynamic, and we are monitoring the situation closely,” M&M President, Automotive Division, Veejay Nakra said.
Kia India also reported a 47 percent increase in its wholesales to 22,022 units in July as compared to 15,016 units in July 2021.
Gradual improvement in the supply chain and continued demand for the brand is adding momentum to the company’s growth, Kia India Vice President & Head of Sales and Marketing Hardeep Singh Brar said.
Another automobile manufacturer Toyota Kirloskar Motor (TKM) reported its highest-ever dispatches in a month at 19,693 units in July. This was 50 percent more than 13,105 units it had sold in July 2021.
Skoda Auto also reported a 44 percent increase in its wholesales at 4,447 units in July as compared to 3,080 units sold in July 2021.
“This is usually the period where big purchases are kept on hold as it’s the monsoon and deferred till the festive season kicks off. Yet, we have clocked in solid numbers on the back of our made-for-India, INDIA 2.0 cars, the Kushaq and the Slavia,” Skoda Auto India Brand Director Zac Hollis said.
Honda Cars India reported a 12 percent increase in domestic sales last month at 6,784 units.
The maker of City and Amaze also exported 2,104 units last month.
The company had reported sale of 6,055 units in the domestic market and 918 units in overseas markets in July last year.
On the other hand, MG Motor India reported a 5 percent decline in retail sales at 4,013 units in July as production impacted by supply chain constraints. The company had registered retail sales of 4,225 units in the same month last year.