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Automobile sales during February showed a good performance, riding on positive growth by most passenger car makers, who reported double-digit growth.
The two-wheeler industry, however, is still reeling under pressure from the impact of demonetisation, with companies not being able to convert enquiries into sales.
In the passenger car segment, Maruti Suzuki India sold over 1.20 lakh units during the month in the domestic market, up 11 per cent, compared with 1.08 lakh units in same month last year.
The second largest passenger car maker Hyundai Motor India reported 4 per cent growth year-on-year (YoY) to 42,327 units in February against 40,716 units in the corresponding month last year.
Premium car maker Honda Cars India reported more than 9 per cent growth in sales during February, as its flagship model City made a come-back with upgraded features.
Toyota Kirloskar Motor also clocked growth with its Fortuner and Innova Crysta sales totalling 11,543 units during the month against 10,312 units in February 2016.
Home-grown company Tata Motors, backed by new launches — Hexa and Tiago — recorded sales of 12,272 units in February, 12 per cent up compared with 10,962 units in same month last year. “Tata Motors’ passenger vehicle business grew by 12 per cent in February owing to a continued strong demand for Tata Tiago. Our recently launched lifestyle utility vehicle Hexa has received an encouraging response and going forward, our robust product portfolio will drive growth in the coming months,” said Mayank Pareek, President, Passenger Vehicle Business Unit.
However, the other domestic company Mahindra & Mahindra recorded a decline in sales y-o-y to 20,605 units last month, down 13 per cent, compared with 23,718 units in the corresponding month last year.
In the two-wheeler segment, market leader Hero MotoCorp reported a decline of 5 per cent in its sales y-o-y to around 5.25 lakh units against 5.50 lakh units in February 2016.
Tamil Nadu-based TVS Motor Company also reported a 6 per cent fall in sales YoY to around 1.73 lakh units, compared with 1.83 lakh units in February last year.
However, Honda Motorcycle & Scooter India reported 5 per cent growth in sales to 3.70 lakh units in February, against a little more than 3.51 lakh units in corresponding month last year.
In the commercial vehicles segment, most companies have reported positive growth.
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