The positive growth in the automobile sector continued in February too with most of the manufacturers, in both passenger vehicles as well as two-wheelers, reporting year-on-year growth in the domestic market.
In the passenger vehicle (PV) segment, market leader Maruti Suzuki reported a growth of 8 per cent YoY in its domestic wholesale at 1,44,761 units during the month compared with 1,33,702 units in the corresponding month last year.The second largest passenger vehicle maker Hyundai Motro India (HMIL) reported a growth of 29 per cent YoY to 51,600 units against 40,010 units in February 2020.
“Hyundai Motor India has been consistently striving to drive a resurgence in sales, thereby contributing towards economic recovery and bringing the industry closer to pre-Covid level sales,” Tarun Garg, Director (Sales, Marketing & Service), HMIL, said.
Mahindra & Mahindra reported a growth of 41 per cent YoY in the domestic sales to 15,391 units during last month compared with 10,938 units in February last year. ‘Nexon’ maker Tata Motors recorded a growth of 119 per cent YoY in domestic sales at 27,225 units(12,430 units). “February 2021 sales have been the highest ever sales for Tata Motors PV in nearly nine years (107 months),” the company said in a statement.
Japanese subsidiaries of Honda and Toyota also reported growth in their monthly sales during February.
In the two-wheeler segment, market leader Hero MotoCorp reported a marginal growth at 4,84,433 units compared with 4,80,196 units in February last year. Similarly, Bajaj Auto also reported sales of 1,48,934 units during the month as against 1,46,876 motorcycles in February 2020.
Honda Motorcycle & Scooter India (HMSI) reported a growth of 31 per cent YoY at 4,11,578 units (3,15,288 units).
Tamil Nadu-based TVS Motor Company reported a 15 per cent growth at 1,95,145 units (1,69,684 units).The commercial vehicle and tractors sales also grew during month.