New Delhi. Major auto companies Hyundai and Honda Cars expect that the demand for cars in the festive season will remain strong after the improvement in the market situation. These companies said that the restrictions implemented due to Kovid-19 (COVID-19) in most states have now been removed. In such a situation, the festive season is expected to be good for the car companies.
These companies say that due to the epidemic, now more and more customers want to buy their personal vehicle. Hence, sales are expected to remain strong during the busy festive season. Automobile companies believe that going forward, the sector may face a supply challenge due to shortage of semiconductor (chip). Apart from this, the third wave of the epidemic can also derail the vehicle sector.
Tarun Garg, Director, Sales, Marketing and Service, Hyundai Motor India said, “The demand conditions are good. There is a good demand in various product segments across the country due to the desire to buy personal vehicles. The atmosphere is looking good for the festive season.”
Improvement in market sentiment since the lifting of Kovid-19 curbs
Echoing similar views, Rajesh Goel, Senior Vice President and Director (Marketing and Sales), Honda Cars India said that the market sentiment has improved after the lifting of the COVID-19 curbs. He said, “The improvement in the sales figures of the industry during the last few months has been better than the initial estimates, which is a good thing. The same trend is expected to continue during the festivals as well. The festive season has started with Onam in South India. Now this atmosphere of enthusiasm is being seen in other markets of the country.
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Good response to the new version of the compact sedan Amaze
Goyal said that the industry is preparing to launch some new models. This will help in achieving better sales figures. He said that the new version of the company’s new offering compact sedan Amaze has received good response in various markets.
Regarding the shortage of chips, Garg said that it has affected Hyundai along with other companies in the industry. The company is trying to manage its production better in the current circumstances.
supply chain bottleneck
Goyal also acknowledged the bottleneck in the supply chain and said that this is a big crisis before the industry. The industry is facing the challenge of meeting the supply amid strong demand. He said that we are also facing the shortage of chip but we are trying our best to keep its impact to a minimum.
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