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Business News/ Auto News / Sale of passenger, commercial vehicles picks up in February
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Sale of passenger, commercial vehicles picks up in February

Commercial vehicle production also increased in double digits aided by a demand revival across segments. Sales of light commercial vehicles and electric three-wheelers saw double-digit growth.

Maruti Suzuki’s export share more than doubled in February.Premium
Maruti Suzuki’s export share more than doubled in February.

NEW DELHI:Passenger and commercial vehicle wholesale dispatches picked up in February, with most manufacturers reporting an improvement in semiconductor supplies and healthy domestic and export demand. Wholesale dispatches for two-wheelers and tractors, however, were lower due to muted domestic demand and a high base of last year.

Maruti Suzuki’s passenger vehicle sales were marginally lower at 164,056 units last month from 164,469 units in February 2021. But, while domestic sales were impacted by chip shortages, the automaker more than doubled its share of exports in February to 24,021 units.

Hyundai’s passenger vehicle sales fell 14% to 53,159 units, and exports declined 10%. Tata Motors and Mahindra and Mahindra, however, recorded double-digit growth in passenger car dispatches in February, with sales up by 47% and 80%, respectively, led by high demand for SUVs.

Commercial vehicle production also increased in double digits aided by a demand revival across segments. Sales of light commercial vehicles and electric three-wheelers saw double-digit growth.

Tata Motors reported 9% year-on-year growth in commercial vehicle sales, Mahindra and Mahindra posted 119% growth in dispatches (including electric and regular three-wheelers), while Ashok Leyland and Volvo Eicher Commercial Vehicles Ltd recorded 7% and 7.3% growth, respectively, in February on a low base, and improving demand for intermediate and light commercial trucks.

While commercial and passenger vehicles showed better volumes in February, wholesale dispatches for tractors and two-wheelers were lower due to dam-pened consumer sentiment in rural India, and a high base effect. Tractor volumes shrank by 46% for Escorts, and 27% for Mahindra & Mahindra.

Despite high demand, sales of premium motorcycles were impacted by semiconductor shortages.

Royal Enfield said unavailability of semiconductors impacted production, which, in turn, led to 15% year-on-year decline in sales in February. TVS Motor sold 86,616 scooters in February against 95,525 units in the year-ago. According TVS Motors, while overall dispatches fell by 5% in February from the year-earlier, motorcycle dispatches grew 5% and exports grew 6%.

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ABOUT THE AUTHOR
Alisha Sachdev
Alisha Sachdev reports on the auto and mobility sector, with a special focus on emerging clean mobility technologies.
Catch all the Auto News and Updates on Live Mint. Download The Mint News App to get Daily Market Updates & Live Business News.
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Published: 01 Mar 2022, 08:10 PM IST
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