India’s automobile market is bouncing again. 12 months-on-year (y-o-y) passenger automobile gross sales in India grew by 23% in February.
Bakar Sadik Agwan, Senior Automotive Consulting Analyst at GlobalData, says that India has ‘overcome the COVID-19 blues’.
Agwan notes that each one OEMs, besides Ford and Skoda, witnessed y-o-y will increase of their gross sales volumes final months. He cites constructive client sentiment but additionally the launch of feature-loaded autos.
“We’re seeing the larger availability of a number of reasonably priced variants throughout main buyer segments,” he says. “Individuals need safer autos and we’re witnessing an growing inclination in direction of private mobility. Mass market vehicles corresponding to Swift, Baleno, Wagon R, Alto and Dzire have been on the highest checklist.”
Agwan additionally notes that SUVs are doing properly, together with the 2020 launched Creta and sub-compact Venue and Vitara Brezza additionally made it to the highest 10 checklist in February 2021.
Tata with bolstering gross sales of Nexon SUV, Altroz and Tiago hatchback topped the gross sales development chart with 119% y-o-y improve.
Nonetheless, he warns that semiconductor shortages may influence the image within the coming months.
“Chip shortages barely impacted the provision for India-bound OEMs and this might have an effect on manufacturing for each home gross sales and exports over the following few months,” Agwan says. “As well as, the rise in gasoline costs will probably be an element restraining gross sales development to a sure prolong however not sufficient to wash-off the enhance created by engaging line-up that’s lately or to be launched within the nation.
“Nonetheless, launches corresponding to Renault Kiger, Swift 2021, Tata Safari, Hector 2021, Citroen C5 Aircross and others will add important volumes within the upcoming months.”