New Delhi:Continuing the trend of mixed sales, the automotive industry saw leaders in the passenger vehicle segment report lower year-over-year sales. However, a few others reported sales growth due to new launches.
While the commercial vehicle segment shows slight improvements, the demand for two-wheelers remains a major concern.
The following is a report by segment of vehicle sales in February 2022.
The country’s largest automaker, Maruti Suzuki India Limited (MSIL), said on Tuesday it recorded a 7.4% decline in domestic passenger vehicle sales to 133,948 units in February 2022. The company sold 144,761 units in February 2021.
Total domestic sales (including passenger vehicles and light commercial vehicles) stood at 137,607 units in February this year, compared to 147,483 units in February 2021.
The shortage of electronic components has had a minor impact on the production of vehicles which are mainly sold in the domestic market. The company has taken all possible measures to minimize the impact, the automaker said in a statement.
“As the industry continues to grapple with the semiconductor shortage situation, the company and its partners are continuously exploring alternatives to ensure customers can take delivery of their most beloved Hyundai cars sooner. “Hyundai said.
According to Veejay Nakra, General Manager of Automotive Division of M&M Ltd., “With global sales of 54,455 vehicles, we achieved 89% growth in February 2022. All segments showed robust growth, including SUVs at 79%, which saw the highest monthly volume on record. We expect demand to remain strong as the Covid situation improves further. We continue to closely monitor the supply of parts related to semiconductors and take the necessary corrective measures.”
“General sentiment in the market continues to remain positive as we see a steady increase in demand trends. This has also led to a steady increase in order bookings, particularly for the Innova Crysta as well as the Fortuner and as a next step, we look forward to fulfilling pending orders from our side,” Atul Sood, Associate Vice President of TKM (Sales and Strategic Marketing), said in a statement.
“Demand remains robust as the company has recorded a healthy booking pace and is seeing promising growth momentum while navigating supply chain constraints,” MG Motor India said in a statement.
Skoda Auto India on Tuesday reported a more than five-fold increase in sales to 4,503 units last month. February 2022 sales were mainly driven by the Kushaq SUV, Skoda Auto India said in a statement.
All three major two-wheeler manufacturers reported lower domestic sales, due to weak demand from the rural sector.
Motorcycle sales for TVS increased 5% from 137,259 units in February 2021 to 143,523 units in February 2022. The company’s scooter sales recorded 86,616 units in February 2022 compared to sales of 95,525 units in February 2021. The shortage of semiconductors has impacted the production and sales of high-end two-wheelers. We are cautiously optimistic that semiconductor supply will improve in the months ahead.
Hemant Sikka, President – Agricultural Equipment Sector, Mahindra & Mahindra Ltd. said, “We sold 18,910 tractors domestically in February 2022. Agricultural indicators continue to look promising with Rabi sowing at an all-time high and higher liquidity with farmers. due to the timely and record supply of Kharif crops. With a record expansion in sown area for the third consecutive Rabi season, we are optimistic for a record level of agricultural production. In addition, the government’s emphasis on increasing summer cropping intensity will bring additional income to farmers. In the export market, we sold 1,527 tractors, a growth of 56% compared to last year. »
Tractor industry wholesale sales remained subdued in February 2022, due to the high base of last year, sharp price increases due to higher commodity price inflation impacting markets. retail sales and higher than normal inventory levels with the channel. Going forward, we expect that the overall increase in rabi sowing this year, the good level of water reservoirs, the increase in Union budget allocations to the rural and agricultural sector and the first indicators of a normal monsoon next year will give positive momentum to the tractor industry in the coming year.
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