Copyright FOURIN, Inc. 2023
India’s Automobile Production Results in 2022
Automobile production in India in 2022 rose to 5,456,857 units, up 24.0% year-on-year, reaching a new record high. In the previous year, automobile supply was constrained by the lack of semiconductors, but in 2022, the semiconductor shortage eased. As a result, automakers stepped up production in order to deal with the backorders that had piled up during semiconductor shortage. CBU exports improved for the second consecutive year, rising 17.8% to 733,183 units; however, it is still significantly below 2016’s record high level of 849,511 units.
Looking at the fluctuation in production volume in 2022 by quarter, year-on-year growth in the first quarter was just 4.4%; however, from the second quarter, when the impact of the semiconductor shortage gradually eased, production increased by 40.8%, 37.8% and 19.6% respectively.