Hyundai India expects semiconductor shortage issue to improve next year

Hyundai Motor India expects semiconductor shortage issue to improve next year and emergence of a clear picture on the competitive scenario as it faces production constraints at present, according to a senior company official.

The second largest passenger vehicle maker in the domestic market by volume has been facing stiff competition from homegrown manufacturers Tata Motors and Mahindra & Mahindra, which are riding high on their new SUV models.

Besides, Maruti Suzuki India has also revved up its SUV plans with the launch of new Brezza and Grand Vitara.

Leading up to the festive season, HMIL, the maker of popular SUVs, Creta and Venue is sitting on a backlog of 1.3 lakh pending orders.