NEW DELHI: February was another good month for the automobile industry that is grappling with multiple challenges such as shortage of semiconductors and the resurgence of COVID-19 cases in several states. Backed primarily by new launches, carmakers reported a strong growth in sales.
India's largest carmaker Maruti Suzuki (MSIL) on Monday said that its domestic sales (passenger vehicles and light commercial vehicles) grew 10 per cent in February to 1,47,483 units as against 134,150 units sold in the same month last year.
While MSIL's mini-segment declined 12.9 per cent to 23,959 units over the same period last year, sales of its compact vehicles rose 15.3 per cent to 80,517 units. MSIL also reported 11.9 per cent increase in exports at 11,486 units.
Korean automaker Hyundai Motor (HMIL) reported a 29 per cent increase in its domestic sales at 51,600 units. HMIL Director (Sales, Marketing & Service) Tarun Garg said both domestic and export demand have recorded healthy double-digit growth last month, reflecting an all-round improvement in buyer sentiment.
However, it was Tata Motors that recorded the highest increase in sales among major players. Backed by new launches such as Altroz 2021 and SUV Safari, Tata’s PV sales surged over two-folds to 27,225 units last month.
Meanwhile, SUV major Mahindra & Mahindra reported a 41 per cent increase in its PV sales to 15,391 units last month, while Toyota’s domestic sales rose 36 per cent at 14,075 units as updated Innova Crysta and Toyota Fortuner remains in high demand.
"Demand continues to remain buoyant for our range of SUVs and we have a robust order pipeline. However, the supply of semiconductors, as we all know, is a global issue and it is likely to continue for another 3-4 months," said M&M CEO of Automotive Division, Veejay Nakra.