Car Sales: Vehicle sales estimated to reach a record high of about 40 lakh units this year

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Maruti

Highlights

  • Passenger vehicle wholesale sales up 21 per cent year-on-year in August 2022
  • MSI has orders for about 4.18 lakh units of passenger vehicles
  • Orders were received for 32,29,672 units in 2017 and 30,82,421 units in 2021

Car Sales: Passenger vehicle (PV) sales are expected to hit a record high of around 40 lakh units this year. A senior official of the vehicle company Maruti Suzuki India (MSI) gave this information on Monday. He said that despite strong demand and shortage of semiconductors, companies are looking for ways to increase production. The company’s senior executive officer (marketing and sales) Shashank Srivastava said the chip shortage issue has improved compared to a year ago. The industry estimates that it has about 7.5 lakh units of PV orders pending, of which MSI alone has around 4.18 lakh units of passenger vehicle orders.

Estimated to get 29 lakh unit orders

Asked about the sales prospects of passenger vehicles, he said, “I think it will be slightly below the 40 lakh unit mark.” At present, we are estimating 28 lakh or 29 lakh unit orders in the domestic market during January-September, 2022. He further said, “In three months’ time i.e. October to December if we get 10 lakh more PV orders, then our total order this year should be around 38 to 39 lakh units.” Srivastava said that this order. Will be a record for this year. The previous best record in domestic PV was 33,94,712 units in 2018. Orders were received for 32,29,672 units in 2017 and 30,82,421 units in 2021.

Passenger vehicle sales increased

Passenger vehicle (PV) wholesale sales grew 21 per cent year-on-year in August 2022, driven by improved semiconductor supply and festive demand. This information has been received from the data released by the Society of Indian Automobile Manufacturers (SIAM), an organization of automobile companies. As per the data, 2,81,210 passenger vehicles were supplied to dealers last month as against 2,32,224 units in August 2021. SIAM said wholesale sales of passenger cars rose 23 percent to 1,33,477 units last month. It was 1,08,508 units in the same period a year ago. The supply of utility vehicles increased by 20 per cent to 1,35,497 units in August from 1,12,863 units in the same month a year ago. Similarly, last month’s total two-wheeler wholesale sales increased by 16 per cent to 15,57,429 units.

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