Car sales stay strong in February despite supply chain woes

Auto companies recorded healthy growth in volumes in February. (Representative image)

NEW DELHI: Car sales witnessed a strong month in February, with companies such as Maruti Suzuki, Hyundai, Toyota and Tata Motors recording healthy growth in volumes, while others such as Nissan riding historic highs on demand for its new model Magnite.
The growth for the industry came amid supply chain challenges as shortages on the semiconductor front hit production at many companies.
Maruti’s domestic passenger vehicle sales were up 8% at 1.4 lakh units, while Hyundai registered a 29% growth at 51,600 units.
The company clocked monthly domestic sales of 59,530 units in February 2021 as compared to 58,644 units sold in February last year amid the Covid-19 outbreak, Suzuki Motorcycle India Pvt Ltd (SMIPL) said in a release.
Tata Motors continued to display a strong performance with a 119% jump in yearon-year numbers on sale of 27,225 units, while for Mahindra, the growth was at 41% on sale of 15,391 units.
Nissan MD Rakesh Srivastava said, “We are getting strong bookings for the Magnite and are ramping up production.”
The country’s largest two-wheeler maker Hero MotoCorp also reported a 1.45 per cent increase in total sales at 5,05,467 units in February. Total motorcycle sales stood at 4,63,723 units last month as against 4,79,310 units in February 2020, down 3.25 per cent.