Sales low in February
India’s top passenger vehicle makers Maruti Suzuki India and Hyundai Motor India, have posted a decline in domestic sales in the month of February, according to a report. At the same time, Mahindra and Mahindra witnessed growth.
The report says that domestic sales of Maruti Suzuki India fell by 7 percent year-on-year from 1,44,761 units in February 2021 to 1,33,948 units last month.
“The company took all possible measures to minimise the impact,” the Business Line reported.
The country’s second-largest manufacturer, Hyundai Motor India, saw a fall in sales at 15 percent to 44,050 units in February 2022 from 51,600 units in the same period last year, according to a report by the apex auto industry body Society of Indian Automobile Manufacturers (SIAM). The data said the company is exploring alternative sources of semiconductors to ensure faster delivery of cars.
Overall passenger vehicle sales in the domestic market were down 6.5 percent from 281,380 in February 2021 to 262,984 last month, the data from SIAM showed. Total two-wheeler sales fell by 27 percent at 1,037,994 units during the month compared with 1,426,865 in the same period last year, CNBC TV reported.
The auto industry was hit by supply-side challenges like semiconductor shortages, high commodity prices, increase in cost due to new regulations and higher logistics costs, said SIAM Director-General Rajesh Menon.
“The industry is closely watching the possible impact of the ongoing conflict in Ukraine as global supply chains could come under stress,” Menon was quoted as saying.
Mahindra’s sales rise
At the same time, homegrown automaker Mahindra and Mahindra witnessed an 80 percent rise in domestic sales at 27,663 units in February as compared to 15,391 units in the corresponding month last year. The company saw a 79 percent growth in SUV sales, which registered the highest-ever monthly volume. The company expects demand to continue to remain strong on the back of easing of COVID-19 restrictions.
“We continue to closely monitor the semiconductor related parts supply and take corrective action as appropriate,” PTI quoted Veejay Nakra, Chief Executive Officer of the automotive division of M&M, as saying.
Surge in E-car sales
A surge in the electric car segment was reported with Tata Motors leading the charge. The top 10 electric vehicles sold in India are Tata Nexon/Tata Tigor, MG ZS EV, Mahindra eVerito, BYD e6 , Audi eTron and Hyundai Kona.
