June auto sales see double-digit growth as sentiments improve

Our Bureau | | Updated on: Jul 01, 2022

Hyundai cars ready for shipment are parked at a port in the southern Indian city of Chennai October 1, 2013. A surprise increase in interest rates and rising car prices in September have tempered hopes for a turnaround in India's struggling autos sector, with some analysts pushing back forecasts for a sustained recovery to next financial year. Car sales in India have fallen nearly 6 percent so far in the current financial year to August, according to the Society of Indian Automobile Manufacturers, as high ownership costs in a slowing economy have prompted consumers to postpone purchases. REUTERS/Babu (INDIA - Tags: BUSINESS TRANSPORT) | Photo Credit: BABU

Tractor sales decline due to high base last year

Domestic passenger vehicle (PV) sales have increased by higher double digits as a result of rising consumer optimism and gradual indicators that the semiconductor scarcity is lessening.

Sales of automakers including Hyundai Motor India (HMIL), Kia India, Mahindra & Mahindra (M&M) and Tata Motors improved in June. However, market leader Maruti Suzuki India saw a marginal decline in its domestic sales on a year-on-year (YoY) basis to 1,22,685 units against 1,24,280 units in corresponding month last year.

The No 2 carmaker HMIL reported sales of 49,001 units during the month — up by 21 per cent against 40,496 units in June 2021.

“With the semi-conductor situation showing signs of betterment, the sales numbers have again started showing a positive trend. Further, the newly launched Hyundai Venue has created excitement in the market space and has been receiving tremendous customer response,” Tarun Garg, Director (Sales, Marketing & Service), HMIL, said.

‘Nexon’ maker Tata Motors’ sales grew by 87 per cent YoY to 45,197 units compared with 24,110 units in same month last year. M&M and Kia India also grew by around 60 per cent y-o-y.

Veejay Nakra, President, Automotive Division, M&M, said the company has robust demand for all its brands including XUV700, Thar, Bolero and XUV300.

Companies like Skoda India also saw big jump in sales because of the new launches.

“Skoda Auto India to continues to breaking and setting new sales records...Also playing a big role are our dealer partners who have done a stellar job. Together, we will ensure that 2022 will be our ‘Biggest Year’ in India,” Zac Hollis, Brand Director, Skoda Auto India, said.

Two-wheeler segment

In the two-wheeler segment also, except Bajaj Auto, all the companies posted growth including the market leader Hero MotoCorp which sold 4,63,210 units ( 4,38,514 units).

Honda Motorcycle & Scooter India, TVS Motor Company, and Suzuki Motorcycle India also grew at higher double digit growth.

In the commercial vehicle segment, most of the companies including Ashok Leyland, Volvo Eicher, M&M and Tata Motors, all reported a big jump in sales.

However, in the tractor segment, both Escorts Kubota and M&M reported double-digit decline in sales on yearly basis.

Published on July 01, 2022
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