Car sales: Vehicle sales are expected to hit a record high of around 40,000 units this year

Photo:PTI Maruti

Strong points

  • Wholesale passenger vehicle sales up 21% YoY in August 2022
  • MSI has orders for around 4.18 lakh units of passenger vehicles
  • Orders were received for 32,29,672 units in 2017 and 30,82,421 units in 2021

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

Estimated to get 29 lakh units orders

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

Sales of passenger vehicles increased

Wholesale passenger vehicle (PV) sales were up 21% year-on-year in August 2022, driven by improved semiconductor supply and festive demand. This information comes from data published by the Society of Indian Automobile Manufacturers (SIAM), an organization of automobile manufacturers. According to the data, 2,81,210 passenger vehicles were supplied to dealers last month compared to 2,32,224 units in August 2021. SIAM said wholesale sales of passenger cars rose 23% to 1,33,477 units last month. It was 1,08,508 units in the same period a year ago. Commercial vehicle supply increased by 20% to 1,35,497 units in August from 1,12,863 units in the same month a year ago. Similarly, total two-wheeler wholesale sales last month rose 16% to 15,57,429 units.

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