Automobile companies are gearing up for a record number of launches in the coming months as the semiconductor shortage that has plagued the industry eases, according Economic Times.
FY23 will see an unprecedented 21 passenger vehicle launches and 17 two-wheeler launches from Toyota Hyryder, Maruti Suzuki Alto, Mercedes AMG EQS 53, Audi Q3 and XUV400. The EV (Electric Vehicle) sector will dominate.
According to Shashank Srivastava, senior executive director, Maruti Suzuki, “The Covid lockdown period probably affected the pace of development work on new models temporarily. But with the strong bounce-back, both in work environment as also the market, auto OEMs have resumed development work on an accelerated basis. This probably explains the bunching up of launches in the current year.”
While the demand outlook is strong, the supply-side challenges continue on account of parts shortages. This, however, is not expected to impact product launch strategies.
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