Auto majors achieve double-digit growth with passenger vehicle sales
October 1, 2020
Auto majors Maruti Suzuki and Hyundai Motor led the recovery march of passenger vehicle (PV) sales in the domestic market in September, posting high double-digit growth ahead of the festive season. Tata Motors, Honda, Skoda and Kia Motors also reported a rise in September sales.
Sales, however, fell at Mahindra & Mahindra and Toyota Kirloskar Motor. But the duo said demand was picking up and there was a lot more confidence among the dealers.
Market leader Maruti Suzuki India (MSI) said its domestic sales increased 32.2 per cent to 1,52,608 units last month from 1,15,452 units in September 2019. The company’s sales of mini cars, comprising the Alto and the S-Presso, stood at 27,246 units compared with 20,085 units in the same month last year, up 35.7 per cent. Sales of compact cars, such as Swift, Celerio, Ignis, Baleno and Dzire, rose 47.3 per cent to 84,213 units against 57,179 cars in September last year.
Shamsher Dewan, auto analyst, vice-president, Icra, said, “It is expected that a low base, upbeat rural sentiments and increased preference for personal mobility would support retail demand in the festive season. Nonetheless, the uncertainty surrounding the pandemic persists and recovery is expected to be gradual at best.”
Hyundai Motor India posted a 24 per cent growth in sales at 50,313 units against 40,705 units sold in the same month last year. The new Creta, Venue and Nios generated demand for the Korean brand.
“The green shoots of recovery are clearly visible with sales improving month-on-month as well as year-on-year,” Hyundai Motor India’s director (sales, marketing and service) Tarun Garg said in a statement.
Tata Motors’ domestic sales were up 13 per cent to 1,06,888 units from 94,454 units last year.
Kia Motors registered sales of 18,676 units, up 147 per cent, from 7,754 units sold in the same month last year. This is also Kia’s highest-ever monthly sales since it entered the country a year ago.
Kookhyun Shim, MD and CEO of Kia Motors India, said, “The Indian auto market is recovering at a better-than-expected pace and we are progressing according to our defined plan.”