For the month of June, the general passenger automobile gross sales got here at 3,20,849 items, which marks a 25 per cent progress YoY. What’s fascinating to notice is that regardless of provide chain constraint, long-waiting durations, the patron demand continues to stay strong. In truth, wanting on the month passed by, the trade noticed some massive blockbuster launches and unveils particularly within the SUV section just like the – new Maruti Suzuki Brezza, the Toyota Urban Cruiser Hyryder, Hyundai Venue facelift and Mahindra’s Scorpio-N.
In phrases of gross sales efficiency of the carmakers within the nation, Maruti Suzuki India, the nation’s largest passenger automobile maker was the one carmaker within the purple, with wholesales of 122,685 items in comparison with 124,280 for a similar interval final yr. The ongoing semiconductor scarcity has made it troublesome for the auto trade as a complete to have the ability to meet buyer calls for. On the opposite hand, the corporate continues to see a strong demand for CNG merchandise, the place it is usually trying to introduce newer fashions.
With 49,001 unit gross sales Hyundai Motor India climbed again to the second spot registering a 21 per cent YoY progress.
Tata Motors reported its greatest ever month-to-month wholesales at 45,197 items, which was a 87 per cent YoY progress, albeit a low base. Shailesh Chandra, MD, Tata Motors Passenger Vehicles and Tata Passenger Electric Mobility stated, “Demand for passenger vehicles continued to stay strong in Q1 FY23 even as the supply side remained moderately impacted due to the lockdown in China. Overcoming the challenges, Tata Motors posted record-breaking monthly sales (June’22) as well as quarterly sales (Q1 FY23). Electric vehicle sales attained new heights with quarterly sales of 9,283 in Q1 FY23 and the highest-ever monthly sales of 3,507 units in June’22. Nexon EV Max launched in May’22, has witnessed strong demand. Going forward, we expect the supply side, including that of critical electronic components to progressively improve. We will continue to keep a close watch on the evolving demand and supply situation and take appropriate actions.”
For Mumbai-headquartered Mahindra has seen an improved demand for its key merchandise the Thar, XUV700 and now the just lately launched Scorpio-N is anticipated to additional contribute to progress. The firm reported wholesales of 26,880 items, which was 59 per cent increased in comparison with the identical interval final yr.
Veejay Nakra, President, Automotive Division, Mahindra & Mahindra stated, “Q1FY23 is our second consecutive highest SUV sales quarter. This has been made possible due to continued robust demand for all our brands including XUV700, Thar, Bolero and XUV300. We sold 26,620 SUVs in June and overall, 54,096 vehicles, registering a growth of 64%. XUV700 achieved yet another milestone of being awarded the coveted Global NCAP ‘Safer Choice’ Award for being the safest car in India. This accolade is only available to automakers achieving the highest levels of safety for vehicles sold in India. We had a blockbuster launch of the Scorpio-N and it has generated tremendous buzz and anticipation. The supply chain situation continues to remain dynamic; we are monitoring the situation closely.”
Kia India with gross sales of 24,024 items noticed a progress of 60 per cent, in comparison with 15,015 items wholesales in June 2020.
In phrases of key highlights, on again of key launches equivalent to Slavia and Kushaq Skoda Auto India reported gross sales of 6,023 items, in comparison with 734 items for a similar interval final yr.
Vinkesh Gulati, President, Federation of Automobile Dealers Association (FADA), “The overall Q1 looks good on YoY basis. In terms of pre-Covid level sales, the passenger vehicle and tractor segment will be in green. There is a shift in consumer preference in the passenger vehicle segment towards premium vehicles. I am expecting that despite the ongoing semiconductor shortage the passenger vehicle segment will see a record-sales in FY2023.”
Despite challenges, India’s PV sector basic stays sturdy
While the trade has been grappling with quite a few challenges, be it the semiconductor scarcity, hike in uncooked materials costs, gas value hike, the truth that India has one of many lowest automobile penetration per capita, the basics stay sturdy.
With the federal government of India’s trying to make autos safer by mandating 6 airbags obligatory, the introduction of the Bharat NCAP ranking going ahead there might be a major problem, particularly for the entry-level hatchback market, which is dominated by Maruti Suzuki India. Also, retail inflation and meals inflation have brought about extreme stress within the rural market. A slowing progress from rural India may very effectively influence the trade potential.
Nikunj Sanghi, CEO, JS Fourwheel stated, “The current retail sales are in stress, especially the entry-level segment. The industry is seeing a huge challenge not just because of the semiconductor shortage but also the fact that there is rural stress, high food inflation, an increase in vehicle prices and also the hike in interest rate. This has led to the prices of entry-level vehicles becoming quite expensive. Despite India having low penetration of vehicles per capita, this will further put stress on the entry-level segment. There is also the challenge of high inventory for dealers.”
But on the flip aspect, if there are not any main disruptions, the passenger automobile section in FY2023 will set a brand new file. Do preserve studying this house for extra.
Source: www.financialexpress.com”