August 1, 2022 – Auto sales – a key barometer of the economy – showed positive trends in July, signaling that companies have mitigated the production hurdle caused by semiconductor shortage. But industry executives warned that this improvement could be impacted by any hike in interest rates and commodity price inflation.
The country’s largest carmaker, Maruti Suzuki, recorded sales of 175,916 units in July 2022, an increase of 8.28 per cent over July 2021.
Tarun Garg, director (sales, marketing & service), Hyundai Motor India said: “With the improvement in the semiconductor situation, the passenger vehicle segment is showing positive trends, riding on the green shoots of pent-up demand and customer desire towards personal mobility. Further, the newly launched Hyundai Tucson has built strong momentum ahead of the festive season and received an overwhelming customer response. We remain optimistic towards the prospects of the Indian auto industry.”
