Companies

Most auto-makers end 2020 on the fast lane; CV sales still lagging

Our Bureau New Delhi | Updated on January 01, 2021

BYD commercial vehicles. Representational image only

Most report double-digit sales growth

The automobile industry ended 2020 on a good note with most segments, be it passenger vehicles, two-wheelers or tractors, reporting a double-digit growth in December on a year-on-year basis.

In the passenger vehicle segment, Maruti Suzuki India reported 15 per cent growth year-on-year (YoY) to 1,40,754 units in December compared to 1,22,784 units in December 2019.

The No 2 passenger vehicle maker, Hyundai Motor India, recorded 25 per cent growth YoY during the month, thanks to its successful models such as the Creta and the i20.

 

 

MG Motor India also closed the year on a strong note, with 5,000 Hector and 200 EV bookings in December, the highest for 2020, it said. The carmaker reported retail sales of 4,010 units in December 2020, up 33 per cent over the same month the previous year.

Homegrown firms Mahindra & Mahindra and Tata Motors also recorded growth with the release of pent-up demand, a strong festival season and the shift towards personal mobility. “Tata Motors’ PV business has been witnessing strong response for its ‘New Forever’ range, which is being supported by continuous ramp-up of supplies,” said Shailesh Chandra, President, Passenger Vehicles Business Unit, Tata Motors.

However, M&M said there are still some supply chain bottlenecks, which is impacting the demand side of the business.

Two-wheeler and tractor makers also saw good sales growth during the month.

However, concerns still remain in the CV segment, as the market has still not seen growth and the industry is awaiting some supply chain improvements.

 

Follow us on Telegram, Facebook, Twitter, Instagram, YouTube and Linkedin. You can also download our Android App or IOS App.

Published on January 01, 2021
This article is closed for comments.
Please Email the Editor