PV sales rev up in June as output in high gear
India’s passenger vehicle (PV) industry logged one of its highest-ever monthly sales volumes this June, with chronic supply bottlenecks easing sufficiently for automakers to raise output and meet robust consumer demand.
Industry estimates showed that around 321,000 passenger vehicles were dispatched from factories to dealerships in June, marking an increase of about 25% from 255,743 units sold in the same period last year.
Volumes would have been even higher – likely breaking past records – had market leader
not gone in for a week-long maintenance shutdown.
October 2020 saw the highest monthly sales for the passenger vehicle industry, with dispatches crossing 334,000 units.
Automakers in India mostly report wholesale dispatches from factory to dealership, and not retail sales to customers.
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Maruti Suzuki sold 122,685 passenger vehicles in the local market last month, a decline of 1.3% over the year-ago period. The shortage of electronic components had a minor impact on the production of vehicles.
Supply Expected to Improve
Maruti Suzuki said it took “all possible measures to minimise the impact.”
Demand parameters as reflected in enquiries and bookings, though, remained healthy.
“Some OEMs, including Maruti-Suzuki, had their annual maintenance shutdown. Despite that, overall industry PV numbers for June are quite high,” said Shashank Srivastava, senior executive director (marketing and sales), Maruti Suzuki.
The company is able to meet 95% of its production target lately, but still has pending orders for around 308,000 units.
Chip Shortage Easing
Hyundai expanded sales 21% to 49,001 units, regaining the second spot. Tarun Garg, director for sales, marketing & service, Hyundai Motor India, said that “with the semiconductor situation showing signs of easing, sales numbers have again started showing a positive trend.”
The newly launched Hyundai Venue has seen good traction, the company said.
Homegrown auto major Tata Motors, too, posted growth of 87% to sell 45,197 units in June. Shailesh Chandra, managing director,
(PV and Tata Passenger Electric Mobility), confirmed that “demand for passenger vehicles continued to stay strong in the first quarter even as the supply side remained moderately impacted due to the lockdown in China.”