Domestic sales of automobiles (dispatches to dealers) in August saw good growth, with market leader Maruti Suzuki India (MSIL) recording one of the best months in the passenger vehicle (PV) segment.

MSIL sold 1,56,114 units during the month, a growth of 16.35 per cent year-on-year (y-o-y), compared to 1,34,166 units units in the corresponding month last year.

“August was a very good month for the industry. PV sales for the month grew at 3,60,897 units, which is the highest-ever monthly sales not just for August but for any month in any year in the industry. The last highest was 3,55,400 units, which was in September of 2022,” Shashank Srivastava, Senior Executive Officer, Marketing and Sales, MSIL, told reporters.

As a result of wholesale growth, market share of MSIL went up to 43.5 per cent in August, compared to 40.8 per cent in the same month last year. The festive season, which started with Onam in Kerala, has led to a very positive retail growth of 25 per cent in Kerala, said Srivastava.

In terms of retail sales, MSIL’s sales were recorded at 1,50,637 units in August, against 1,28,500 of last year — a growth of 17.3 per cent, he said.

For the whole industry, the retail sales in August is estimated at around 3,43,000 units, against 3,19,800 of last year, a growth of 7.3 per cent on YoY basis, he added.

The second-largest PV maker, Hyundai Motor India, also reported domestic wholesale growth of around 9 per cent y-o-y to 53,830 units during the month, compared to 49,510 units in August 2022.

Mahindra & Mahindra and Toyota Kirloskar Motor recorded double-digit growth on y-o-y basis. With bookings of its new SUV ‘Elevate’, Honda Cars India (HCIL) also saw some improvements in its sales during the month.

“The festive demand has been strong and continues to show good momentum. The celebratory fervour, which began with Onam in Southern India, will extend to rest of the markets as we move towards the peak of festivities in the coming months...as we gear up for the launch of Elevate on September 4, we are confident that this promising addition to our line-up will become a strong pillar for Honda,” said Yuichi Murata, Director, Marketing and Sales, HCIL.

In the two-wheeler segment, except Bajaj Auto, leading companies such as Hero MotoCorp, Honda Motorcycle & Scooter India, TVS Motor and Royal Enfield reported growth in numbers.

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