Maruti Suzuki India has already seen a production loss of around 46,000 units due to the shortage. , Photo Credit: PTI
Maruti Suzuki India is hopeful semiconductor shortage According to a senior company official, the order backlog for some models will further increase if the demand continues for the next few quarters.
The country’s largest carmaker has increased its pending bookings to 3.69 lakh units, with the Ertiga leading the way with 94,000 bookings.
Other models like Grand Vitara and Brezza have an order backlog of around 37,000 and 61,500 units respectively.
In addition, the company has received around 22,000 and 12,000 bookings for the Jimny and Frons respectively.
Due to the chip shortage, Maruti Suzuki India (MSI) has already seen a production loss of around 46,000 units in the October-December period and is expected to have some impact on production in the current quarter as well.
Read this also | Maruti Suzuki has increased the prices of all models by about 1.1 percent.
Shashank Srivastava, senior executive officer (marketing and sales), Maruti Suzuki India, said, “Semiconductor shortage still continues. In the last quarter we lost 46,000 units due to this issue and in this quarter also the problem continues for some models.” Is.” PTI in a conversation.
The company expects this shortfall to continue for a few more quarters, he added.
“It is difficult to estimate the exact timeline as to when this will return to normal as there is no visibility,” Mr Srivastava said.
Commenting on the overall PV industry, he said that sports utility vehicles continue to lead the way with a share of 42.6% and hatchbacks accounting for 35%.
“So far the passenger vehicle industry has seen sales of 35.5 lakh units in this financial year. It looks like the industry will end the year with 38.8 lakh units, which is the highest number ever,” he added.
The number was 30.7 lakh units in the last financial year, so sales are expected to increase by around 26% in this financial year.
He added that in the next financial year the PV segment is expected to register a growth of 5-7% as compared to 2022-23.
Read this also | Maruti Suzuki India’s wholesale sales down 9% at 1,39,347 units in December
“After the increase in the repo rate, many banks have increased the lending rates… rates are clearly moving up and obviously this has an impact on aggregate demand,” he added. There is roughly an increase of 5-7%,” Mr Srivastava said.
MSI is expected to outperform the industry, he said, adding that with the increase in vehicle loan rates the market is seeing some impact on demand.
Mr. Srivastava said that there are some positive factors as well which help in mitigating the negative factors in the market.
“If the economy continues to grow, the impact may not be as severe… Government spending on infrastructure has a positive impact on the demand outlook,” he added.
On the Jimny and Frons, Mr Srivastava said production of the models would begin later this month in Gurugram and Gujarat respectively.
Total wholesale sales of passenger vehicles crossed the 3.35 lakh units mark in February. This was also the highest ever dispatch by the companies to the dealers in the month of February.
MSI’s domestic wholesale sales grew 11% to 1,55,114 units in February as against 1,40,035 units in the same month last year.
The auto major has dispatched 15.08 lakh units in the current fiscal so far, a growth of 23% from 12.27 lakh units in the April-February period of the previous fiscal.