A tremendous jump has been recorded in the sales of vehicle manufacturing companies in 2022.
Image Credit source: Representational Image
A tremendous jump has been recorded in the sales of vehicle manufacturing companies in 2022. During this period, domestic sales of passenger vehicles increased by 23 percent to reach a record level of 37.93 lakh units.
A tremendous jump has been registered in the sales of major vehicle manufacturers like Maruti Suzuki, Hyundai and Tata Motors in 2022. During this period, domestic sales of passenger vehicles increased by 23 percent to reach a record level of 37.93 lakh units. With improved global semiconductor availability and better demand, automakers supplied a significant number of vehicles to dealers this year. The demand has been very strong especially in the SUV category.
Sales of these companies were good
Manufacturers like Toyota Kirloskar Motor (TKM) and Skoda India have also registered good sales in 2022. Shashank Srivastava, senior executive officer (sales and marketing) of the country’s largest car maker Maruti Suzuki India (MSI), said in a virtual conference that during January to December last year, the industry’s wholesale sales grew by 23 per cent to 37.93 lakh units. reached a record high with It was 30.82 lakh units in 2021.
Srivastava said that the retail sale of vehicles in 2022 is the highest for a calendar year in the industry. Its previous high level was in the year 2018, when 33.3 lakh vehicles were sold.
What is the reason for cell growth?
On the reasons for this high growth, Srivastava has said that he believes that this boom is partly due to better availability of semiconductors, as the industry was badly hit by the semiconductor issue last year. He said that the demand for SUVs is increasing continuously and it has become about 42.3 percent of the total passenger vehicle (PV) sales.
Maruti Suzuki’s sales in the calendar year 2022 have increased by 16 percent to 15.76 lakh units. Whereas in 2021, 13.64 lakh units were sold. However, the company’s domestic wholesale sales declined by 9.91 per cent to 1,13,535 units in December, the last month of the year, from 1,26,031 units in December 2021. Hyundai Motor India Limited has also registered its record domestic sales of 5,52,511 units in 2022. This is 9.4 per cent higher than 5,05,033 units in 2021. The company’s domestic wholesale sales grew by 20.2 per cent to 38,831 units last month. It was 32,312 units in the same month a year ago.