– Availability of semiconductors has slowly and gradually improved
– Global shortage of electric components was triggered by the COVID-19 pandemic
The shortage of semiconductors has affected all major automakers in the country. As reported in our monthly sales figures, Maruti Suzuki registered a significant drop in sales over the last few months. This time around, the company revealed that the availability of semiconductors has slowly but surely improved, thereby resulting in improved production and a reduction in the waiting period for some of the car models.
The global shortage of electric components was triggered by the COVID-19 pandemic induced supply hurdles with a simultaneous healthy demand. Moreover, the shortfall can also be attributed to the exponential rise in demand for personal electronics such as cell phones and laptops during the ongoing pandemic.
Shashank Srivastava, Maruti Suzuki India’s Senior Executive Director, Sales and Marketing, told IANS, “Semiconductor supply issues have become better in the past few months but the situation is still very dynamic. In November about 85 per cent production will be achieved from 40 per cent in September and 60 per cent in October.” That said, it is worth noting that even though the supply situation has improved, overall the industry continues to suffer from shortages. Back in October 2021, Maruti Suzuki registered a 26 per cent drop in sales as compared to the same period last year.
Srivastava also pointed out that CNG models have been performing tremendously well in the country. Moreover, the consumers have shown their inclination towards the subscription model and also for the ‘Smart Finance’.
Source – IANS