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Car makers reports strong growth in sale

Most car-makers in October reported strong growth in dispatches to dealers as an anticipation of strong demand during Diwali.

Most car-makers in October reported strong growth in dispatches to dealers as an anticipation of strong demand during Diwali. According to market leader Maruti Suzuki it sold over 1.63 lakh passenger vehicles in the domestic market in October, 17.6% up from 1.39 lakh vehicles in the month in 2019.

Car makers reports strong growth in sale - The Wall Post - Business News
Car makers reports strong growth in sale (Photo Source: PTI)

The company confirmed sales of its compact cars (WagonR, Swift, Celerio, Ignis, Baleno and Dzire) and utility vehicles (Gypsy, Ertiga, S-Cross, Vitara Brezza and XL6) were up 26.6% to 95,067 units and 10% to 25,396 units, respectively, while those of mini segment cars (Alto, S-Presso) remained almost flat at 28,462 units.

The India’s largest two-wheeler maker, Hero MotoCorp, registered its “highest-ever sales in any single month” at over 8.06 lakh units in October 2020, a growth of 35% over the year-ago month.

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“A positive turnaround in customer sentiments, particularly for motorcycles across markets, continued government policy support and a credible resumption of supply chain, logistics and business operations have enabled the company to achieve record numbers during the auspicious festive period.” it said.

Tarun Garg, director (sales, marketing & service), HMIL, said that Hyundai Motor India also recorded the highest-ever domestic sales since its inception of 56,605 units, a growth of 13% over October 2019. The previous highest monthly domestic sales number for the company was 52,001 units in October 2018.

“We have seen positive sales momentum in line with market sentiment … The festive buying picked up from Navratri in mid-October and we are focusing on maximising deliveries during this period. Thanks to our strong and refreshed product line-up introduced right before the festive season and ongoing multiple consumer offers, we expect this demand to continue through Deepavali … .” said the senior vice-president and director of Honda Cars India, marketing and sales, Rajesh Goel, as it saw a year-on-year growth of 8.3% in sales last month at 10,836 units.

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Toyota Kirloskar Motor (TKM) sold 12,373 vehicles last month, to achieve a growth of 4%.

Mahindra & Mahindra reported a 1% growth in domestic passenger vehicle sales in October at 18,622 units. Veejay Nakra, CEO, automotive division, M&M Ltd., said, “We are happy to achieve a growth of 4% in utility Vehicles, despite certain supply constraints … the festive season has started on a positive note with deliveries and bookings being higher than last year. Going forward, this augurs well for a robust festive demand which in turn will help the industry in the short term.”

However, Motorcycle-maker Royal Enfield, reported a decline of 7% in sales at 62,858 units in October 2020.