Economy

July sales bring some cheer to automakers

Our Bureau New Delhi | Updated on August 02, 2020 Published on August 02, 2020

 

After four months of negative sentiments ruling the automobile sector due to Covid-19 disruptions, the July wholesale numbers have given some hopes to manufactures with sales picking up marginally for some players. Enquiries and bookings, too, are up. The upswing is expected to continue throughout the festive season over the next few months.

Whether it is passenger vehicles or the two-wheeler segment, companies have reported either better sales or inched-in nearby, during the month as against the same month last year.

In the passenger vehicle segment, market leader Maruti Suzuki India (MSIL) has reported positive growth (by around 1 per cent) year-on-year (YoY) by dispatching 97,768 units in the domestic market as compared with 96,478 units in July 2019.

 

However, the country’s second largest passenger car maker Hyundai Motor India (HMIL) reported domestic sales of 38,200 units in July, a decline of two per cent YoY as compared to 39,010 units in corresponding month last year.

But, new entrants like MG Motor and Kia Motorss India continue to sell more vehicles every month.

“With the changing trend of preference for personal mobility, our consistent efforts are towards fulfilling the customer needs and meeting the market demand. With 38,200 units, July ‘20 domestic sales volume is 98 per cent of July ‘19 domestic sales volume,” Tarun Garg, Director (Sales, Marketing and Service), HMIL, said.

Similarly, Veejay Nakra, Chief Executive Officer, Automotive Division, M&M, said there is a growing trend in overall vehicle sales, primarily in rural and semi urban India.

In the two-wheeler segment also, the companies have reported higher sales as compared to June. For instance, market leader Hero MotoCorp has reported sales of 5,06,946 units (5,11,374 units). TVS Motor Company reported domestic sales of 1,89,647 units (2,08,489 units).

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Published on August 02, 2020
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