MUMBAI, Jun 2 (NNN-PTI) – India’s four-wheeler auto companies reported robust sales volume in May, with the easing of chip shortage coupled with demand.
During the month under review, India’s largest passenger car manufacturer, Maruti Suzuki, Tata Motors and Mahindra reported a growth of 295 percent, 204 percent and 236 percent to 160,459 units, 74,755 units and 26,904 units respectively, from corresponding month last year.
“The shortage of electronic components had a minor impact on the production of vehicles during the month. The production figures of May, 2022, are not comparable with that of May 2021, as the operations of the Company in May, 2021, were significantly affected due to COVID-19 related disruptions,” said Maruti Suzuki, in its statement.
While chip availability remains volatile, better availability should lead to improved output for passenger vehicles, given healthy demand and order book, especially in the sport utility vehicles (SUV) and compact SUV segments, said an auto analyst with a domestic stock brokerage house.– NNN-PTI
