Hyundai currently has 1.3 lakh pending orders due to the upcoming festive season.
A senior company official told PTI that Hyundai Motor India expects the semiconductor shortage issue to improve next year as well as bring clarity on the competitive landscape as it currently faces production bottlenecks. The company is facing heavy competition from domestic automakers Tata Motors and Mahindra & Mahindra, who are focusing on their new SUV models. Even Maruti Suzuki has upped its SUV game with the launch of the new Brezza and Grand Vitara.
Currently, Hyundai has 1.3 lakh pending orders due to the upcoming festive season and the chip shortage is making the situation worse. Tarun Garg, Director – Sales, Marketing and Service, Hyundai Motor India said, “2022 is driven more by the chip issue, so the real demand situation will emerge only when we do not allow any shortage of semiconductor supply.”
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Talking about the company’s market position in the SUV segment and the competition in the segment, Garg said that the demand for the company currently exceeds the supply. “Competition is definitely increasing (but) it is very difficult to gauge now… we think going forward, the situation will improve in 2023 and then the real demand situation will emerge,” Garg said.
In the April-June quarter, Hyundai India’s domestic passenger vehicle sales stood at 9,10,431 units as compared to 6,46,272 units in the same period of FY22. The automaker dispatched 1,35,295 units to dealers during the period, while Tata Motors sold 1,31,940 units and Mahindra sold 76,310 units during the June quarter.
Garg also said that as long as the automaker continues to bring technological innovation to the country, customers will continue to prefer it over others. The company plans to continue offering diesel cars which have a strong demand in states like Madhya Pradesh, Rajasthan and Telangana.
First published date: 09 Aug 2022, 06:52 AM IST