Indian Auto Sector Shows Signs Of Recovery In April 2022

Semiconductor shortage continued to rail the auto sector as carmakers struggled to meet production targets and fulfil demand in April 2022. However, the sector did show signs of recovery. Maruti Suzuki has recorded a slump of 10.21 per cent in its passenger vehicle business selling 121,995 units in the domestic market last month as compared to 1,35,879 units sold in the same month last year. Meanwhile, domestic sales for Mahindra & Mahindra were comparatively better as it registered a 23 per cent growth year on year with 22,526 units sold in April this year. Tata Motors too recorded a healthy growth of 66 per cent in domestic sales with 41,587 units sold last month, in terms of annual growth, despite headwinds due to supply chain constraints. However, domestic sales for Honda slipped by 13.20 per cent with 7,874 units sold in April this year. The Japanese carmaker though registered a two-fold growth in exports shipping out 2042 units in April 2022 as compared to 970 units exported in the same month last year. Toyota Kirloskar Motor sold 15,085 cars in April 2022, registering a growth of 57 per cent over last year. Lastly, MG Motor India sold 2,008 units in April 2022, marking a 21 per cent drop in volumes annually.