The nation’s two leading passenger vehicle makers Maruti Suzuki India (MSIL) and Hyundai Motor India (HMIL) on Tuesday reported decline in their domestic wholesale (dispatches to dealers) on the year-on-year (y-o-y) basis, while players like Mahindra & Mahindra (M&M) and Tata Motors have grown, helped by new launches.
MSIL sold 1,33,948 units in February, declining by seven per cent (y-o-y) as compared with 1,44,761 units in corresponding month last year. The company said in a statement that the shortage of electronic components had a minor impact on the production of vehicles which are primarily sold in domestic market. “The company took all possible measures to minimise the impact,” it said.
Second largest manufacturer, HMIL recorded a decline of around 15 per cent y-o-y to 44,050 units during the month as against 51,600 units in February 2021.
“As the industry continues to grapple with semiconductor shortage situation, Hyundai along with its partners is continuously exploring alternatives to ensure customers can take delivery of their most loved Hyundai cars at the earliest,” the company said.
Nissan India also reported domestic wholesale of 2,456 units during the month, a decline of 42 per cent y-o-y, as compared with 4,244 units in February 2021.
However, homegrown company M&M said it sold 27,663 units in the domestic market in February, a growth of 80 per cent y-o-y as compared with 15,391 units in the corresponding month last year.
“All segments showed robust growth including SUVs at 79 per cent, which registered the highest ever monthly volume. We expect demand to continue to remain strong as the Covid situation eases further. We continue to closely monitor the semi-conductor related parts supply and take corrective action as appropriate,” Veejay Nakra, Chief Executive Officer, Automotive Division, M&M, said.
Similarly, ‘Tigor’ maker Tata Motors sold 39,981 units in February, a growth of 47 per cent y-o-y, as compared with 27,225 units in February 2021.
‘Carens’ maker Kia India said it sold 18,121 units of vehicles during the month, a jump of eight per cent as compared with 16,702 units in February 2021.
MG Motor India also said that it has retailed 4,528 units in February, accounting for a growth of five per cent over the corresponding month last year.
In the two-wheeler segment, the companies still see red in their sales because of continued low demand from the rural areas. Both the market leaders Hero MotoCorp and Honda Motorcycle & Scooter India both reported decline in sales by more than 30 per cent YoY. Others including TVS Motor Company, Royal Enfield and Suzuki Motorcycle India also reported decline in sales.
The tractor wholesales also continued to remain subdued in February, due to high base of last year, steep price increases due to higher inflation in commodity prices impacting retails and above normal inventory levels with the channel.
However, in the commercial vehicle segment, the companies like Ashok Leyland, Volvo Eicher, M&M and Tata Motors reported growth in sales.