Passenger vehicle wholesales at highest-ever in November
Though the growth rate moderated when compared with the previous few months, in terms of absolute numbers, passenger vehicle wholesales last month were the best-ever for November in the domestic automobile industry.
According to industry estimates, about 335,354 cars, sedans and utility vehicles were dispatched from factories to dealerships last month, an increase of 3.9% over 322,600 units sold in the same period last year.
Industry numbers were supported by market leaders Maruti Suzuki and Hyundai Motor India which reported a growth of 1.3% (134,158 units) and 3.1% (49,451 units), respectively last month.
Shashank Srivastava, senior executive officer (marketing and sales) at Maruti Suzuki said, “This is the 11th straight month that the industry has reported best-ever sales for the month. Better availability of vehicles with the easing of the semiconductor shortage helped boost sales in the festive period in the first two weeks of last month.”
For the whole month, demand at Maruti Suzuki remained healthy with bookings increasing by 7%, he said.
The company currently has pending orders for 206,000 vehicles.
Sales in the local market continued to be driven by demand for SUVs, which comprised 53% of overall volumes last month. Tarun Garg, chief operating officer at Korean automaker Hyundai said, “SUVs contributed as much as 68% to our sales last month.
Demand in the market is good. While the growth rate may moderate on a high base going ahead, the industry should be able to cross the 4 million mark in sales for the first time this year.”
Hyundai has received more than 100,000 bookings for its latest small SUV Exter.
