Auto sales on ascending track riding on festive cheer, smooth chip supplies
Robust festive demand coupled with better production due to easing of semiconductor supplies helped the domestic passenger vehicle industry post its best-ever monthly sales performance in September.
Leading automakers Maruti Suzuki, Hyundai and Tata Motors were able to improve their dispatches to dealers last month on the back of improved production with the easing of chip shortage situation.
''It is the second best month for the company in 42 months,'' MSI Senior Executive Director (Marketing & Sales) Shashank Srivastava told reporters. The best month for the auto major was October 2020 when it had dispatched 1,63,000 units in the domestic market, he added.
Srivastava said that the company's market share stood at 42 per cent last month, a jump of 7.8 per cent over September 2021.
He noted that the industry has crossed the 10-lakh sales mark in a quarter for the first time ever in the July-September period.
''It is the first time ever that the one million sales mark was breached by the industry in a quarter. Even the first six month wholesales are best ever for the industry with sales of 19.37 lakh units,'' he added.
Similarly, sales in the compact segment, including models such as Swift, Celerio, Ignis, Baleno and Dzire, rose to 72,176 units as against 20,891 cars in September 2021.
Similarly, sales of utility vehicles, including Grand Vitara, Brezza and Ertiga, rose to 32,574 units as compared with 18,459 vehicles in the year-ago month, MSI said.
''With the excellent resilience shown by the Indian economy over the last few quarters, the festive season has further fuelled the demand momentum,'' Hyundai Motor India Director (Sales, Marketing & Service) Tarun Garg said.
Tata Motors Passenger Vehicles Managing Director Shailesh Chandra said the company attained its highest ever monthly sales of 47,654 last month led by record sales of Nexon and Punch.
''Going forward, we expect the festive season will witness strong retails on the back of improving supply of vehicles,'' he added.
Similarly, Kia India also reported its best-ever sales performance last month with dispatches of 25,857 units to dealers.
''The festive demand has been strong and continues to show good momentum. On the supply side, we were able to increase our factory output compared to last month which is also a positive for the festive sales in terms of better availability of Honda cars during the Navratras, Dussehra and Diwali period,'' Honda Cars India Director (Marketing and Sales) Yuichi Murata said.
Similarly Toyota Kirloskar Motor reported a 66 per cent increase in wholesales last month at 15,378 units.
The Bengaluru-based automaker had dispatched 9,284 units to its dealers in September 2021.
In the two-wheeler segment, Hero MotoCorp said its domestic sales stood at 5,07,690 units in September as compared with 5,05,462 units in the year-ago period.
TVS Motor company said its domestic two-wheeler sales increased by 16 per cent to 2,83,878 units last month as against 2,44,084 units in September 2021.
(This story has not been edited by Devdiscourse staff and is auto-generated from a syndicated feed.)