PV Market

Pre-Covid it had predicted that the market would reach 10 million

Maruti is operating at 95 per cent of its prodcution capacity

Entry-level cars, two-wheelers remain in slow lane; two-wheeler exports jump

The demand for passenger vehicles (PVs) will witness moderate growth over the next few quarters with complete unlocking of the economy and revival of demand, particularly in the rural areas, according to Acuite Ratings & Research. However, it said the volumes may remain partly constrained due to the continuing supply challenges in semiconductors and also the sharp increase in retail fuel prices. The domestic PV sales registered a healthy growth of 14.7 per cent year-on-year in FY22 despite the supply challenges in semiconductors that led to longer waiting periods and production cuts for certain models, Acuite said in a statement. The growth print was also supported by a low base factor, given the protracted lockdown in FY21, it added. "Acuite believes that the demand for PVs will witness a moderate growth over the next few quarters with complete unlocking of the economy and revival of demand, particularly in the rural areas," it said. For two-wheelers, the rating agency said the .

Maruti Suzuki India, Tata Motors and Renault are the only auto makers among the top seven players in the Indian passenger vehicles segment to have gained market share in 11 months of the current fiscal. Hyundai Motor India, Mahindra & Mahindra, Honda Cars India and Toyota Kirloskar Motor, all have witnessed fall in market share during the period. According to the latest data from Society of Indian Automobile Manufacturers (SIAM), the domestic passenger vehicles segment (PV) grew by 9.16 per cent to 27,64,206 units in April-February as against 25,32,288 units in the year-ago period. Market leader MSI increased its share to 47.6 per cent, selling 13,15,946 units during the period. It had a market share of 46.85 per cent with 11,86,456 units in the same period last fiscal. The number two player, HMI saw its market share drop to 16.82 per cent with 4,64,948 units in the ongoing fiscal. It had a market share of 17.49 per cent in the year-ago period, having sold 4,43,123 ...