In 2022 passenger vehicle sales may reach a record level of 40 lakh units
By MYBRANDBOOK
This year the domestic passenger vehicle sales may reach a record level of nearly 40 lakh units due to strong demand and companies finding ways to enhance production despite semiconductor shortage, according to a senior official of Maruti Suzuki India.
As per news source, Shashank Srivastava, Senior Executive Officer, Marketing and Sales, Maruti Suzuki India (MSI) said that even as the chip shortage issue has improved compared to a year back, the industry is estimated to have a pending order of around 7.5 lakh units of passenger vehicles with Maruti Suzuki alone having around 4.18 lakh units
"I think it would be slightly below 4 million (units mark).
"At the moment the projections are that in January-September, maybe we should be touching like 2.8 or 2.9 million," he said when asked about the sales prospects of passenger vehicles (PVs) in the domestic market in 2022.
He further said, "In three months time, that is October, November, December - if we get let's say one million more, then we should be around that 3.8 to 3.9 million units."
According to him, this would be a record for a calendar year.
Before this, 2018 was recorded as the best year with 33,94,712 units followed by 32,29,672 units in 2017 and 30,82,421 units in 2021.
One of the key factors for such a record this year, he said, is that the economy is back on the growth path.
"There is a big correlation between vehicle sales and economic growth.
"The economic growth is projected to be 7 per cent plus after two years of not so good growth because of COVID-19," Srivastava added.
He also said that pandemic triggered the demand for personal mobility but companies were unable to supply due to the semiconductor shortage challenges and order kept cumulated.
For MSI alone, Srivastava said the current pending booking is at 4.18 lakh units and for the industry it is estimated to be around 7.5 lakh units.
There are long waiting periods for the company’s vehicles like Ertiga, Brezza, Baleno and the XL6, extending up to six months. He also added that the new SUV Grand Vitara, its price is yet to be announced, has already received around 52,000 bookings out of which nearly 25,000 are for strong hybrid variant.
"So, as the semiconductor issue eases and production increases, those vehicles can be immediately sent out," he added.
A third factor for increase in sales is also good traction in almost all segments, some of which had stopped during the peak of the pandemic.
"For example, fleet or taxis, those segments also have started coming back again as the rate of COVID-19 starts to taper down," Srivastava added.
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