In the next months, as the industry’s long-standing semiconductor bottleneck eases, automakers are preparing for a record number of launches.
A record-breaking 21 passenger vehicle and 17 two-wheeler launches are scheduled for FY23, most of which will occur over the upcoming holiday season.
The electric vehicle and sports utility vehicle markets will see the most activity in the market for passenger automobiles. Launches of the Toyota Hyryder, Maruti Suzuki Alto, Mercedes AMG EQS 53, Audi Q3 and XUV400 are just a few of the new vehicles.
“New models are routinely planned 38 to 46 months in advance in the automotive business. The Covid shutdown presumably momentarily slowed down the creation of new models. Auto OEMs have, nevertheless, accelerated their development efforts in response to the market’s and the workplace’s strong recoveries. This likely explains why launches have gathered together this year “said Senior Executive Director for Maruti Suzuki Shashank Srivastava.