• Supply constraint impact: May SUV sales grew 11% to 58,000 units while LCVs rose 19% to 24,000 units, with supplier manpower shortages shaving off an estimated 10–15% of potential growth ahead of an expected resolution by early July.
• Export growth drivers: Exports increased 37% in May, bolstered by steady momentum in South Africa and Australia alongside ongoing shipments for a 35,000-vehicle order in Indonesia.
• FY27 volume outlook: Management expects mid-to-high teens growth for SUVs and double-digit growth for LCVs across the full year, supported by robust demand for models including the 7XO and 9S.
• EV penetration target: Monthly EV sales stand between 6,300 and 6,500 units, and the company aims to sustain an EV penetration rate above 10% even as ICE SUV volumes scale.
• Input cost management: Rising memory chip and commodity prices pose no immediate supply or volume risk, though management is prepared to implement price hikes to pass on input costs if needed.