‘India poised to see highest-ever passenger vehicle sales’ – Times of India

New Delhi: Maruti Suzuki, the nation’s largest carmaker, has stated that India might file its highest-ever passenger automobile gross sales at over 35 lakh items in 2022-23 as demand for private mobility comes again strongly and shortages round part provides, particularly semiconductors, ease.
Shashank Srivastava, who heads gross sales and advertising and marketing at Maruti, advised TOI that shopper curiosity stays sturdy in new purchases, and added that a big push to demand is coming from rural markets, the place shopping for has been brisk.
The very best automobile gross sales ever recorded in a single yr in India was in 2018-19, when trade quantity was at 33.8 lakh items. After that, gross sales of passenger automobiles – together with small vehicles, sedans, SUVs and MPVs – slipped to 27.7 lakh items in 2019-20 attributable to financial challenges and slowdown in metros.
Gross sales in 2020-21 have been impacted by corona lockdowns and restrictions, and the trade completed the yr at 27.1 lakh items, earlier than witnessing a rebound in 2021-22 – largely led by pent-up demand – the place numbers are anticipated at 30.2 lakh items. The one deterrent to a much bigger turnaround has been scarcity of semiconductors, Srivastava stated.
“Demand has been robust all through, and apart from provide points on semiconductors, there have been no main hiccups. Even the chip scarcity situation has been getting higher over the previous few months. We anticipate gross sales numbers in 2022-23 could be robust and be anyplace between 33.6 lakh and 35.2 lakh,” Srivastava stated.
The constructive optimism comes whilst petrol and diesel costs have typically been excessive, and costs of automobiles have gone up over the previous yr attributable to commodities getting dearer.
Srivastava stated gross sales of private vehicles gained as folks shifted from shared mobility (similar to Ola and Uber) and public transport to self-owned vehicles to keep away from public areas attributable to social distancing norms.
Srivastava stated rural section will play a key function in fuelling the trade numbers. “Even for Maruti, the share of rural to complete gross sales is now at 43%. Rural incomes haven’t been impacted as a lot when in comparison with city. Rural has seen greater investments from the federal government, MSP costs and water reservoirs are higher, and sowing has been greater than final yr.”
On Maruti, he stated the corporate is trying to perk up market share by beefing up SUV portfolio. “SUVs are in demand, and the patron is aspirational.”


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