The semiconductor chip shortage continues to play spoilsport for carmakers in India as it continues to take a toll on production and in-turn on sales. Hyundai Motor India Limited (HMIL) has reported a sales decline of 14 per cent in February 2022 selling 53,159 units as compared to 61,800 units sold in the same month a year ago. The Korean carmaker reported a de-growth of 14.60 per cent in its domestic sales at 44,050 units compared to 51,600 units sold in the same month last year. Its exports too went down by 10.70 per cent at 9,109 units as against 51,600 units sold in the same month a year ago.
Also Read: Hyundai To Invest $530 Million To Launch Six EVs In India By 2028
The company issued a statement saying, "As the industry continues to grapple with semiconductor shortage situation, Hyundai along with its partners is continuously exploring alternatives to ensure customers can take delivery of their most loved Hyundai cars at the earliest."
Also Read: Hyundai Motor Expects Vehicle Production To Rebound In H1 As Chip Supply Improves
Hyundai Motor India is facing challenges to keep up with the production due to the semiconductor issue.
Having said that, Hyundai's month-on-month sales growth in the domestic market remained flat as it sold 44,022 units last month. The carmaker has also managed to remain at the number two spot in February as Tata Motors stood third selling 39,981 units last month. Hyundai Motor India had slipped to the third spot in December last year in terms of domestic sales, but had managed to reclaim its position In January despite Tata Motors clocking its highest ever sales in January 2022.
