PV segment reports healthy volumes for March 2022
News: For March 2022, Maruti Suzuki (MSIL) sales volume jumped 3.9% MoM at 1.66 lakh units. Tata Motors reported similar reading with volumes up 5.7% MoM at 42,466 units. While M&M's volumes stood muted and came in largely flat MoM at 27,603 units
View: MoM growth in the PV space came in a positive surprise amid media articles in the recent past suggesting pressure on production volumes due to semi-conductor chip supply constraints. Segment mix continues to deteriorate at MSIL in favour of mini and compact car space with UV sales witnessing a decline of 1.4% MoM while the mini & compact segment registering a growth of 0.3% on MoM basis. At Tata Motors, EV volumes were up by 18% MoM at 3,357 unit’s vs 2,846 units in Feb 22. At M&M, UV volumes were down marginally i.e. 0.6% MoM at 27,380 units. At MSIL, the total volume reading was the best in last 17 months.