Tata Motors, M&M register growth; continuing chip shortage plagues industry
Passenger vehicle (PV) market leaders Maruti Suzuki and Hyundai on Saturday said wholesales declined in December, although homegrown majors Tata Motors and Mahindra & Mahindra reported growth, even as the semiconductor shortage continued to impact output.
India’s largest carmaker Maruti Suzuki India reported a 4% fall in wholesales to 1,53,149 units in December compared with a year earlier. Domestic sales slipped 13% to 1,30,869.
“The shortage [of electronic components] primarily affected the production of vehicles sold in the domestic market,” Maruti said in a statement. The auto major reported a 13% year-on-year growth in wholesales in 2021 as it dispatched 13.97 lakh units to dealers.