Kia India Registers 22% Decline In Wholesales In October

Automaker Kia India on Monday said its wholesales declined by 22 per cent to 16,331 units last month as compared to 21,021 units in October 2020.

The company dispatched 10,488 units of Seltos, 5,443 units of Sonet, and 400 units of Carnival last month to dealers.

"The adverse supply chain situation has been an opportunity lost for us; however, our customers' and vendors' continuous support has enabled us to maintain a healthy performance throughout the year. As we foresee the issue to continue for the next few months, we assure our customers to keep optimising our production to the maximum level and ensure delivery at the earliest," Kia India MD and CEO Tae-Jin Park said in a statement.

The company is keeping a close eye on the situation and are ready to take the necessary steps as and when required, he added.

Since the start of COVID-19 pandemic, the automotive industry and many other sectors across the globe have been struggling with the semiconductor crunch.

This acute gap in the demand and supply of semiconductors has led to an increased delivery time of vehicles.

Despite challenges, Kia India has been optimising its production to keep the waiting period at a minimum, the auto maker noted.

The company expects the supply chain will begin to normalise from early next year, it added.

(Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)

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