Comments
Our Bureau Passenger vehicle makers including Maruti Suzuki India Ltd (MSIL) and Mahindra & Mahindra saw a marginal dip in their July sales due to higher base in the corresponding month last year. Uncertainties such as the truckers strike during the month added to the issues.
Short-term impact
However, the industry does not have to worry as this was a short-term impact, said experts.
“The year-on-year (YoY) growth alone should not be seen. The entire industry may be flat, but the market sentiment is positive and the absolute numbers are going to be higher on a month-on-month basis,” RS Kalsi, Senior Executive Director, Marketing and Sales, MSIL, told BusinessLine over phone.
The company, which is going to launch the all-new Ciaz later this month, expects to add to the numbers in the coming months, he said. “The rural market will also do better as many were postponing purchases because of the monsoon and the floods last month — buyers wouldn’t like to take out a new car during such times,” Kalsi added.
The company sold 1,52,427 units last month compared with 1,53,298 units in July 2017.
Similarly, sales of M&M during the month declined 6 per cent to 19,781 units, compared with 21,034 units in July 2017.
“The auto industry has been subject to certain uncertainties with the truckers’ strike and sluggishness on the retail front, which has impacted the passenger vehicle segment,” said Rajan Wadhera, President, Automotive Sector, M&M.
But with the onset of the festival season, the company is seeing a turnaround in the overall buying sentiment, he added.
Ford India and Toyota Kirloskar Motor also reported a decline in sales. However, companies like Tata Motors and Honda Cars India reported positive numbers, riding on newly launched models.
Two-wheeler sales
In the two-wheelers segment, sales have been positive with market leader Hero MotoCorp reporting 9 per cent growth with around 6.80 lakh units, against around 6.23 lakh units in July 2017.
Other companies like TVS Motor Company and Suzuki Motorcycle India reported double-digit growth on a YoY basis during the month.
In the commercial vehicles segment, companies including Ashok Leyland, Tata Motors and Volvo Eicher Commercial Vehicles reported double-digit growth in July.
Comments
COMMENT NOW
Comments
Comments have to be in English, and in full sentences. They cannot be abusive or personal. Please abide by our community guidelines for posting your comments.
We have migrated to a new commenting platform. If you are already a registered user of TheHindu Businessline and logged in, you may continue to engage with our articles. If you do not have an account please register and login to post comments. Users can access their older comments by logging into their accounts on Vuukle.