Maruti Suzuki India Ltd expects some recovery in chip shortages in the second quarter, an executive at the country’s top carmaker said on Monday.
The shortage, which affected the company’s April production, will continue in the current quarter ended June, the executive said.
“Chip shortage will continue in Q1 but we are expecting some recovery in Q2, although visibility on semiconductor supply remains limited,” Shashank Srivastava, senior executive, marketing and sales, said on a call.
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The auto industry has been battling with semiconductor shortages and higher raw material prices since the COVID-19 pandemic.
Maruti’s total sales for April rose 6.5% to 160,529 units from a year earlier, the carmaker said in an exchange filing. The company raised prices across models from April, under pressure from high domestic inflation and new emission norms.
The company has seen a bigger share of sport-utility vehicles (SUVs) in its total sales, while sedans’ contribution has been lower to the total number, Srivastava added.
SUVs made up more than half of India’s record 4 million passenger vehicle sales in fiscal year 2022-23, signalling growing popularity of the relatively pricier vehicles in a budget-conscious market.
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