Automakers in India continued to report growth in wholesales number on a year-on-year basis in February 2022. The sales numbers were boosted by the ease in Covid-19 restrictions and growing demand for electric vehicles, while semiconductor shortages and high fuel costs remained key concerns for automakers.
Market leader Maruti Suzuki India posted a marginal drop in total wholesales at 164,056 units in February, compared to 164,469 units in the same month last year, the automaker said in a regulatory filing. Last month, the country’s largest carmaker had reported a 3.96% year-on-year (YoY) drop in total wholesales at 154,379 units in January.
“The shortage of electronic components had a minor impact on the production of vehicles which are primarily sold in the domestic market. The company took all possible measures to minimise the impact," Maruti said in an exchange filing.
The company’s domestic sales fell 8.46% to 140,035 units compared to 152,983 units in February 2021. However, exports jumped over two-fold to 24,021 units as against 11,486 units in the same month last year, it added.
Tata Motors saw its total domestic sales rising by 27% to 73,875 units in February 2022, compared to 58,366 units in the year ago period. The passenger vehicle sales in the domestic market surged 47% to 39,981 units as against 27,225 units in the same month last year. Commercial vehicle sales in the domestic market last month climbed 9% to 33,894 units from 31,141 units in the year-ago period.
Homegrown auto major Mahindra & Mahindra (M&M) saw its total sales jumping by 89% to 54,455 units during the month under review, from 28,777 units in February 2021. The passenger vehicle sales in the domestic market rose by 80% YoY to 27,663 units last month, while commercial vehicle sales surged more than two-folds to 23,978 units.
Meanwhile, Hyundai Motor India posted a 14% drop in total sales at 53,159 units last month, compared with 61,800 units sold in February 2021. Domestic sales dipped 14.6% to 44,050 units as against 51,600 units in the same month last year.
Skoda Auto India posted an over five-fold jump in sales to 4,503 units last month, driven by the success of its mid-sized SUV Kushaq. The company, a subsidiary of a Czech automobile manufacturer Skoda Auto, had dispatched 853 units in the same month last year.
Nissan India saw its total wholesales climbing by 57% to 6,662 vehicles in February 2022. The company sold 2,456 units in the domestic market and exported 4,206 units last month.
Among others, MG Motor India registered 5% growth in its retail sales at 4,528 units last month as against 4,329 units in February 2021. "The demand remains robust as the company has garnered a healthy booking pace and is experiencing a promising growth momentum while working its way through the supply chain constraints," MG Motor India said in a statement.