Market leaders continue to drive auto sales growth in Feb

Maruti Suzuki, Bajaj Auto and Hero Honda Motors continued to lead the passenger cars, three-wheeler and two-wheeler segments as domestic automobile sales in February grew by 21.32 per cent year-on-year.

According to the data released by the Society of Indian Automobile Manufacturers (SIAM), the total sales in February stood at 13,70,932 units as against 11,30,037 units in the corresponding month last year.

The passenger vehicle segment reported a growth of 20.88 per cent at 2,35,521 units as against 1,94,835 units in the same month pervious year.

However, commercial vehicle sales showed a slower growth rate of 10.49 per cent at 64,057 units as against 57,977 units year-on-year.

The SIAM Director-General, Mr Vishnu Mathur, said that “commercial vehicle sales are expected to pick up again in March.”

The three-wheeler sales grew by 24.03 per cent to 49,082 units versus 39,572 units in the corresponding month last year. While two-wheeler sales grew by 22.04 per cent to 10,22,272 units as against 8,37,653 units in the same month last year.

Growth moderating

Commenting on the sales numbers, Mr Mathur, said “The monthly growth rates have started to moderate. In the long-term we see growth rates moderating to about 12-13 per cent, but this would be largely because of the increasing base. With a large base even a slight moderation from the current levels would be good for the industry.”

Maruti Suzuki had a strong February with a sales growth of 19.79 per cent (1,01,543 units), Hyundai's sales grew by 5.25 per cent (32,629 units) but Honda Siel's sales dipped by 22.82 per cent (4,843 units).

In the two-wheeler segment, Hero Honda's sales grew by 24.32 per cent (4,62,953 units) while competitor Honda Motorcycles and Scooters' sales grew by 15.29 per cent (1,32,762 units).

Total exports also showed a healthy growth in February. Exports grew by 27.57 per cent to 2,10,800 units.