Sales of passenger vehicles show positive signs due to better chip supply

As semiconductors' situation improves, automakers' sales note an uptick as automakers such as Maruti Suzuki, Hyundai, Tata Motors and Mahindra & Mahindra registered high double-digit growth in their passenger vehicle sales last month. Toyota Kirloskar Motor (TKM), Kia India, Honda Cars and Skoda Auto India also reported the highest-ever growth in their passenger vehicle sales.

Maruti Suzuki India sold 1,42,850 units compared to 1,33,732 units in July 2021 registering a growth of 6.82 per cent. “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 sales figure of the automaker was mainly pushed by compact cars that included 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.

Hyundai Motor India announced that its domestic sales were at 50,500 units last month which is an increase of 5.1 per cent higher than the 48,042 units sold in July last year. HMIL Director (Sales, Marketing & Service) Tarun Garg said, “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."

Tata Motors registered a 57 per cent increase in its domestic passenger vehicles sales that is the automaker sold 47,505 units compared to 30,185 units in the year-ago month. The company's passenger electric vehicle sales also increased to 4,022 units in July 2022 from 604 units in July 2021, informed the company said.

Mahindra & Mahindra Ltd reported about a 33 per cent increase in domestic passenger vehicle sales last month. The automaker sold 28,053 units compared to 21,046 units in the same month last year. Mahindra's positive sales have been mainly driven by its utility vehicles.

(With inputs from PTI)