Carmakers in India reported a pointy rise in annual gross sales for the fiscal 12 months 2022 on Friday, however warned of future dangers from world provide chain disruptions.
View PhotosCars are seen parked at Maruti Suzuki’s plant at Manesar, within the northern state of Haryana
Carmakers in India reported a pointy rise in annual gross sales for the fiscal 12 months 2022 on Friday, however warned of future dangers from world provide chain disruptions.
Maruti Suzuki, India’s largest carmaker, stated gross sales rose 13% within the fiscal 12 months ended March 31 to 1.65 million models, rising for the primary time in two years. But the corporate warned that “the supply situation of electronic components continues to be unpredictable”.
This may need “some impact” on the manufacturing quantity within the present fiscal 12 months, Maruti stated in an announcement. Maruti, which sells one in each two vehicles in India, is majority owned by Japan’s Suzuki Motor Corp.
Automakers globally have been compelled to make sharp manufacturing cuts over the previous 12 months as provide chain disruptions and booming demand for client electronics have led to an acute scarcity of semiconductors. This has resulted in lengthy wait occasions for automotive consumers.
Now, Russia’s invasion of Ukraine is predicted to worsen the issue as each international locations provide uncooked supplies used to fabricate semiconductors, Indian rankings company ICRA stated.
“The impact of the crisis in the form of higher fuel and commodity prices also poses a risk to (automobile) demand prospects, in case it materialises into a long drawn out war,” ICRA stated.
Tata Motors, which can be India’s largest electrical carmaker, reported its highest ever annual gross sales of passenger automobiles, up 67% to 370,372 models from a 12 months in the past. Its electrical automotive gross sales grew practically 4 occasions to 19,000, the corporate stated in an announcement, regardless of “two waves of Covid, semi-conductor crisis and steep increase in commodity prices”.
“Going forward, the semi-conductor situation remains uncertain. We will continue to monitor the evolving situation closely,” stated Shailesh Chandra, managing director, Tata Motors Passenger Vehicles and Tata Passenger Electric Mobility.
(Reporting by Aditi Shah; Editing by Frances Kerry)
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With inputs from NDTV
