The hike in interest rates has not yet impacted demand for vehicles but the real picture will emerge once the semiconductor shortage issue is addressed and production gets normalised, according to a senior official of Maruti Suzuki India.
With the launch of new products such as Grand Vitara and Brezza adding more to bookings, the company’s pending orders have gone up to 3.87 lakh units, from around 2.8 lakh in the last quarter, Maruti Suzuki India Ltd (MSIL) Senior Executive Officer (Marketing & Sales) Shashank Srivastava said.
“Theoretically speaking, it should have a negative impact because interest rates going up (have an impact on) discretionary spending, which also includes spending on cars,” he said in an interaction.