Auto companies ride out cash ban blues, sales gather steam
|Source: The Hitavada Date: 02 Mar 2017 09:57:24|
MAJOR automobile makers Maruti, Ford, Toyota, Tata Motors and Honda on Wednesday reported a strong domestic passenger vehicles sales growth for February as the industry continued to recover from the demonetisation impact.
The country’s largest car maker, Maruti Suzuki India (MSI) said its domestic sales stood at 1,20,735 units, up 11.7 per cent from 1,08,115 in February last year.
The company’s growth was mainly driven by compact segment comprising Swift, Estilo, Dzire and Baleno, which grew by 9.4 per cent to 47,002 units last month as against 42,970 in the year-ago period. Sales of utility vehicles, including Gypsy, Grand Vitara, Ertiga, S-Cross and compact SUV Vitara Brezza, zoomed 110.5 per cent to 17,863 units in February, from 8,484 in the same month of 2016, Maruti Suzuki said. However, MSI’s sales of mini segment cars, including Alto and WagonR, were down 6.8 per cent at 33,079 units during the month under review compared to 35,495 in February 2016.
Ford India reported a 52 per cent jump in its domestic sales at 8,338 units last month as against 5,483 in the same period a year earlier.
Toyota Kirloskar Motor also reported an 11.93 per cent growth in domestic sales at 11,543 units in February. The company had sold 10,312 units in the domestic market in February last year.
Similarly, French auto major Renault today reported a 26.8 per cent increase in sales at 11,198 units in India in February compared to the year-ago month. Tata Motors said sales of passenger vehicles in the domestic market went up by 12 per cent to 12,272 units last month. Honda Cars India Ltd also reported a 9.44 per cent increase in domestic sales at 14,249 units in February as against 13,020 sold in the same month last year.
Hyundai Motor India Ltd said its domestic sales were up 4 per cent at 42,327 units during the month as against 40,716 units in the year-earlier period. Nissan Motor India today reported a 24.86 per cent increase in domestic sales in February at 4,807 units as against 3,850 sold in the same month last year. Home-grown utility vehicles major Mahindra & Mahindra, however, reported a 2.26 per cent decline in its domestic market at 40,414 units last month compared to 41,348 in February 2016. In the two-wheeler segment, Royal Enfield, the two-wheeler division of Eicher Motors, reported an 18.88 per cent jump in total sales at 58,439 units in February as against 49,156 in same month last year.