Pent-up demand, festive season hold PV gross sales in quick lane in Dec

Riding on pent-up demand, festive gross sales uptick and rising desire for private mobility, nation’s main passenger automobile producers witnessed sturdy progress in home gross sales in December 2020. While the nation’s largest automotive producer, Maruti Suzuki India Limited introduced a 14.6 per cent soar with gross sales of 1,40,754 models within the home market, Hyundai Motor India introduced gross sales of 47,400 models in December, registering a 24.9 per cent soar over gross sales in December 2019.
Among different producers, whereas Tata Motors introduced a robust 84 per cent soar with gross sales of 23,545 models in December, Toyota Kirloskar Motors introduced a 14.4 per cent progress charge in year-on-year gross sales in December. Honda Cars India and Mahindra & Mahindra introduced 2.7 per cent and three.1 per cent progress, respectively.
In mixture, the six producers — MSIL, Hyundai, Tata Motors, M&M, Honda Cars and TKM— bought 2,44,006 models in December 2020 within the home market, as in opposition to 2,04,169 models in December 2019 — registering a progress charge of 19.5 per cent.
For the market chief, MSIL, the compact phase (WagonR, Swift, Celerio, Ignis, Baleno and Dzire) witnessed sturdy demand of 18.2 per cent and the phase accounted for 55 per cent of complete PV gross sales for the corporate. The mini phase (Alto and S-Presso) witnessed 4.4 per cent progress in December over the corresponding month of the earlier yr.

While a number of producers credited the expansion in gross sales to festive gross sales and pent-up demand, there’s a feeling that the long run demand can be pushed by availability of vaccine and revival within the economic system.
Stating that Hyundai achieved a brand new milestone in month-to-month manufacturing at 71,178 models in December, SS Kim, MD & CEO, HMIL mentioned, “Looking towards the future, we are proceeding with cautious optimism and positively anticipate green shoots of recovery in 2021.” In truth, HMIL additionally grew to become the most important auto exporter from India for calendar 2020 with gross sales of 98,900 models.
Rajesh Goel director, advertising and marketing and gross sales at Honda Cars, mentioned with availability of novel coronavirus vaccines in 2021, he expects return of optimism to the market and enhance within the shopper sentiment going ahead.
As Tata Motors witnessed sturdy progress in December and has seen its passenger automobile gross sales develop by 89 per cent within the quarter ended December 2020, with highest ever gross sales in final 33 quarters, Shailesh Chandra, president, PV enterprise, Tata Motors mentioned, “The PV industry continued to grow robustly in Q3FY21, owing to pent up demand, strong festive season and shift towards personal mobility… We are continuing to debottleneck the supply chain and ramp up our output to meet the increased demand while addressing the availability of electronic components.”
Several producers have been going through provide chain constraints and a difficulty with availability of digital elements. In an announcement issued on Friday, M&M mentioned that its general gross sales have been affected because of the persevering with provide chain challenges associated to the always altering world surroundings, extra particularly the provision scarcity of micro-processors (semiconductors) utilized in Electronic Control Unit (ECUs).