As many as 342,300 passenger cars were sold in July, according to industry estimates, up 16% from a year earlier, when manufacturers sent 295,000 units to dealers. Before that, passenger car sales peaked at 334,000 units in October 2020.
Automakers in India usually report wholesale shipments from factories to dealers, not retail sales to customers.
Market leader sold 142,850 passenger cars in the local market last month, up 7% from a year earlier. The shortage of electronic components had a minor impact on vehicle production, the company said, adding that it was taking “all possible measures” to minimize the impact.
“Demand parameters as indicated by wholesale shipments, inquiries and pending bookings remain strong,” said Shashank Srivastava, senior executive director (marketing and sales) at Maruti Suzuki.
With supply bottlenecks easing, Maruti Suzuki increased production a year earlier and 15% the previous year. Demand for the newly launched Brezza has been good, so far the company has received more than 75,000 bookings for the car. Overall, the order book stood at 335,000 units at the end of July, it said.
At the local unit of Korean auto giant Hyundai Motor, wholesale volume rose 5% in July to 50,500 units. Tarun Garg, director (sales, marketing & service), said: “With the improvement of the semiconductor situation, the passenger car segment is showing positive trends, building on the green shoots of pent-up demand and customer desire for personal mobility. ”
The company remains optimistic about the outlook for the Indian auto industry going into the holiday season, he added.
registered another record month with sales of 47,505 units, up 57% year over year. At rival Mahindra & Mahindra, sales increased by a third to 28,053 units thanks to strong demand for SUVs XUV700, Thar, Bolero and XUV300. “The supply chain situation remains dynamic and we are monitoring the situation closely,” said Veejay Nakra, president (automotive division) at Mahindra.
Kia India posted 47% higher sales to 22,022 units. Hardeep Singh Brar, vice president and head (sales and marketing), said: “This year we outpace the industry with a cumulative growth rate of 28.4% over 2021, which is much higher than the industry’s growth rate of 16%. .. To ensure minimum waiting times, we have been running our production facility at full capacity and with the utmost optimization since February 2022.”
Motor recorded its highest wholesale number ever with 19,693 units, 50% more than a year earlier. For Honda Cars India, sales rose 12% to 6,784 units.
Yuichi Murata, director (marketing and sales), Honda Cars India, said the company has witnessed a good demand trend in the model range in recent months. However, the chip shortage continues to affect and slow the supply. “We are diligently aligning our production to meet demand as quickly as possible. On a cumulative basis, HCIL sales grew 40% last year. As we approach the festive period, we hope that demand will remain strong and provide the industry with much-needed revelry after last year’s challenging situation,” said Murata.
In the commercial vehicle segment, demand momentum remained strong. While commercial vehicle sales at Tata Motors increased 44% to 31,473 units,
increased by 56% to 12,715 units.
Sales of two-wheelers improved, albeit at a low level. Chennai based
saw sales rise 15% in July to 201,942 units.
In the agricultural machinery sector, Mahindra recorded a 16% decline in tractor sales to 21,684 units. Hemant Sikka, president (agricultural machinery sector) at the company, said July has traditionally been a lean month as the land preparation phase, where a tractor finds the highest utility, would end. Monsoon, a major determinant of agricultural growth, has remained on track so far. Overall rainfall has been higher than normal, except for a few states in the eastern part of the country, which have had insufficient rainfall to date. “Because these states are the country’s main rice-producing markets, rainfall recovery is crucial. The festive season falls in the second half of August and sufficient rainfall in most regions will shape the industry in the coming months.”
|Domestic sales only|