Will the post-coronavirus sweet days of the auto industry continue?
Online Economy – Parham Karimi; According to the experts of the Indian automobile industry, the shipment of passenger cars from factories to showrooms last month with 329,000 units was the highest in August and the third highest shipment in any month. This was the third consecutive month that more than 300,000 vehicles were sent from Indian factories to the showrooms and market, which could be an indication of the revival of the auto industry after the Corona epidemic and supply chain disruptions. Along with this improved supply, in India we saw the launch of new models by companies like Maruti Suzuki. The following table shows the 26% growth of car supply compared to the same period last year in India.
Sales of small cars and hatchbacks led the NSE model to boost Suzuki’s sales by 30%, while SUVs helped Tata Motors, M&M and Kia register double-digit sales growth.
Maruti’s chief sales and marketing executive said demand for cars remains high and the Indian automaker’s peak sales season will begin next week with 10-15 percent growth, according to bookings.
He also said, “For the first time, the industry in India as a whole has sold nearly one million vehicles in three months. It seems that the demand trend is still strong and sales festivals will also bring good momentum. The continuation of this trend depends on chip supply, which will determine future production and supply growth.”
Srivastava said the Indian auto industry has sold around 1.58 million vehicles so far this fiscal year and is on track to record a record production of 3.7 million vehicles for the entire year. It should be kept in mind that the realization of this figure means a 20% growth in supply per year.
Vijay Nakra, head of automotive at M&M, said August was an exciting month as the company launched its vehicles across segments.
He said: “Demand remains high across our range and has been boosted by the launch of the best-selling Scorpio-N, Scorpio Classic and the new Bolero MaXX Pik-up. We are facing the highest volume of the supply of SUVs in history, which is 29,516 units in the month of August, which has recorded an 87% growth compared to August 2021.