Auto sales show positive trends in July as global chip headwinds ease

Hyundai reported sales of 50,500 units in the domestic market (up 5.1 per cent YoY), against 48,042 units a year ago

Auto sales -- a key barometer of the economy -- showed positive trends in July, signalling that companies have mitigated the production hurdle caused by semiconductor shortage. But industry executives warned that this improvement could be impacted by any hike in interest rates and commodity price inflation.

The country’s largest carmaker, Maruti Suzuki, recorded sales of 175,916 units in July 2022, an increase of 8.28 per cent over July 2021.

The company's sales were driven mainly by compact cars, including the Baleno, Celerio, Dzire, Ignis, Swift, Tour S, and WagonR. Sales of these rose to 84,818 units in July 2022,