KIA Seltos become the best-selling SUV in the country. As per reports, KIA India sold 14,441 units in the month of September 2021. This is nearly half of all the Seltos sold all over the world. The company also announced the launch of a special anniversary addition of KIA Sonet in India to celebrate the first year of the compact SUV model.
First ever Made-In-India Mercedes-Benz 2021 S-Class rolled out in India at 1.62 crore. This marks a remarkable achievement for India’s manufacturing capabilities. However, the E-Class still remains the best selling model. The German automobile giant also posted highly improved figures and sold 8,958 cars from January to September 2021 which is a 79% jump in numbers as compared to 5,007 cars sold in the same period last year.
TATA motors’ stock rallied in the bullish market on the back of the deal which will bring an investment of 7,500 crores at a valuation of $9.1 billion by TPG Rise in TATA’s EV Subsidiary. This could be India’s Tesla moment. The newly launched mini-SUV Tata Punch has also garnered a lot of attention and promises to do well in the closely approaching festive season in the country.
India is no longer a Small-Car Country
It’s official, Indians love SUVs. More than half the passenger vehicles sold in the country from July-September quarter were the large cars. One of every two cars sold now is an SUV. The SUV market grew by a staggering 102% from April-September 2021. Tata’s Nexon, Harrier & Safari, Renault Kiger, Hyundai Creta & Hyundai Venue, Kia Sonet & Kia Seltos and MG Hector, all these cars available at various price points catering to all classes of customers has attracted a lot of attention from the Indian market and continues to do so. Mahindra XUV700, MG Astor & Tata Punch are about to enter the hottest segment right now and it remains to be seen how these cars perform.
Mahindra XUV700 Breaks All Records
Mahindra announced a three-hour booking window in the first week of October for the newly launched Mahindra XUV700. The Indian audience responded well and how. At a booking amount of Rs. 21,000, Mahindra generated revenue worth 105 crores which means XUV700s worth 9500 crore were sold in just 3 hours. This is ASTONISHING to say the least. There is also bad news for those who were looking to get their hands on this monster SUV. This volume of demand also means that the waiting period for the car could well be up to 1 year.
Chips Shortage Stings Indian Automobile Sector
The effects of the Covid-19 Pandemic are still largely being felt by the world and especially the Automobile sector in the country. Passenger vehicles sales fell by 41% in September and the total units sold stood at 160,070. The consumer demand is truly high thanks to the festive season but the supply gap persists. Same time last year, 293,226 units were sold. The semiconductor chips shortage remains a major concern for the sector.
That’s all for now. Hope you guys enjoyed the quick update for the month and do check out our detailed blog on Mahindra XUV700 and why it has managed to break the records that it did.