Maruti, Hyundai, Tata Motors report brisk wholesales

Toyota Kirloskar Motor said its wholesales declined by 6 per cent year-on-year to 14,162 units in April

Leading automakers Maruti Suzuki, Tata Motors and Hyundai on Monday reported healthy increase in domestic passenger car sales in April led by robust demand for the sports-utility vehicles (SUVs), even though exports remained sluggish.

The country’s largest carmaker Maruti Suzuki sold a total of 160,529 units in April 2023 as compared to 150,661 units sold in the same month last year, posting a year-on-year increase of 6.5 per cent.

The company’s domestic passenger car sales jumped by 8.5 per cent to 1.43 lakh units in April as against 1.32 lakh units recorded in the same month last year.

However, exports continue to remain under pressure amid weak global demands. Maruti Suzuki’s exports shipment fell to 16,971 units in April 2023, which is 7.8 per cent lower when compared with 18,413 units exported in April 2022.

Maruti Suzuki India Senior Executive Officer (Marketing & Sales) Shashank Srivastava said the company’s production was constrained due to chip shortages.

“We were constrained in many ways by the semiconductor issue and we lost some volume, especially in Brezza, Grand Vitara, and Ertiga,” Srivastava said in a virtual press meet.

Also Read: Maruti Suzuki April wholesales rise 7% to 1,60,529 units

Read more at: https://www.deccanherald.com/business/business-news/maruti-hyundai-tata-motors-report-brisk-wholesales-in-april-1214719.html

He said the chip shortages would continue to weigh on the production in the coming months. “Chip shortage will continue in Q1 but we are expecting some recovery in Q2,” Srivastava added.

Tata Motors’ total sales dropped by 4% to 69,599 units in April 2023 from 72,468 units sold in the same month last year, dragged by a sharp plunge in the sale of commercial vehicles.

The company’s passenger vehicle sales jumped by 13 per cent to 47,107 units in April as compared to 41,630 units in the same month last year. However, commercial vehicle sales plunged by 27% to 22,492 units in April 2023 from 30,838 units recorded in the same month last year.

Tata Motors exported 100 vehicles in April 2023 as compared with 43 vehicles exported in April 2022.

Hyundai Motor India sold 58,201 units in April, which is 3.5 per cent higher when compared with 56,201 units sold in the same month last year.

Hyundai’s domestic wholesale jumped by 13% to 49,701 units in April. However, the company’s exports dipped to 8,500 units in April 2023 from 12,200 units in April 2022.

Hyundai Motor India chief operating officer Tarun Garg said the company’s sales during the month was led by “an overwhelming response” to the recently launched all-new Verna model.