Maruti Suzuki has a waiting period of 3-4 weeks for its smaller cars such as the Alto and the Swift, but the waiting period goes up to 6-8 weeks for cars such as the Ertiga.
January 06, 2021 / 12:01 PM IST
With the rising demand and low interest rates on auto loans, compact SUVs are not the only cars burdened with the long waiting periods. Hatchbacks and small cars such as the Maruti Suzuki Alto, as well as some premium hatches like the Hyundai i20, have waiting periods in the range of 1-10 months.
According to a report in The Times of India, the rising demand for cars may have been one factor, but the decadal low auto loan rates have been another major deciding factor.
Maruti Suzuki, for example, has a waiting period of three-four weeks for its smaller cars such as the Alto and the Swift, but the waiting period goes up to six-eight weeks for cars such as the Ertiga, says the report. The manufacturer has been operating at peak capacity ever since October 2020 and had to shut down between December 27 to January 3 to undergo maintenance.
Hyundai, on the other, has a waiting list lasting around two-three months. Ganesh Mani, Hyundai Motor India Director (Production) said that they had to almost double the production capacity of the Hyundai Creta. “We have doubled Creta production from 340 units a day to 640 units in the last six months,” Mani told TOI.
The company is also looking at augmenting production of the i20 and the Verna seeing as how those cars too have long waiting lists.
Hyundai is not the only one however as the Mahindra Thar and the Nissan Magnite are facing similar issues. The Thar has a waiting period of around 20-40 weeks, around five to 10 months while the Magnite sees a waiting period of around six months. Both companies are working on ramping up production to deal with the demand.
According to the publication, auto dealers say that due to good sales in the month of December, the inventory pipeline has been wiped clean and this will take weeks to ease out. OEMs have managed to grow 18 percent in sales on a year-on-year basis in December making the highest sales in the past 10 years.