Auto Sales Shows Sign of Recovery during Jan
Feb 04 2017 11:35 AM , Madhurima Chowdhury , No Comments
Showing signs of recovery from the demonetization distress, automobile manufacturers namely Hyundai, Maruti Suzuki, Tata Motors, Toyota and Nissan registered huge passenger vehicle sales growth in January. Maruti Suzuki, the car market leader India reported its domestic sales stood at 1,33,934 units, up 25.9 per cent from 1,06,383 in January last year. The company’s sales growth was spread all mini and compact cars and utility vehicles segments.
Sales of mini segment cars which includes Alto and WagonR, increased by 10.9 per cent to 37,928 units during the month under review as compared with 34,206 in January 2016. In the compact segment which constitutes Swift, Estilo, Ritz, Dzire and Baleno jumped 25.2 per cent to 55,817 units last month as against 44,575 in the year-ago month. Sales of utility vehicles, including Gypsy, Grand Vitara, Ertiga, S-Cross and compact SUV Vitara Brezza surged 101 per cent to 16,313 units in January, from 8,114 in the same month of 2016, it added. Maruti share price settled below 0.20 per cent at Rs. 6115.45.
Rival Hyundai Motor India’s domestic sales rose by 10.5 per cent at 42,017 units last month versus 38,016 units in January last year. Likewise, Toyota Kirloskar Motor clocked a 21 per cent growth in domestic sales in January at 10,336 units as compared with 8,511 units sold in January last year. Three months into demonetization and the company can slowly see that the market is reviving with increased footfalls and customer enquiries. In the same manner, Nissan Motor India saw its January domestic sales jump by 62.89 per cent at 4,346 units as compared 2,668 vehicles sold in the same month last year.
They have started the New Year on a positive note. In spite of the challenging market conditions, they have seen a substantial y-o-y growth in January which shows strong customers response and trust in the Nissan and Datsun brands. Homegrown auto major Tata Motors said its passenger vehicles sales in the domestic market grew 21 per cent to 12,907 units last month on the back of robust sales of hatchback Tiago. Intraday on Friday, Tata Motors share price dipped below 1.91 per cent.
On the other hand, for Mahindra & Mahindra domestic sales went down 9 per cent at 37,042 units last month as compared with 40,693 in January 2016. The auto industry continues to face mixed reactions and some of the segments including the rural market and the commercial vehicles category continue to see tough times. In the two-wheeler segment, Royal Enfield, the two-wheeler division of Eicher Motors, informed that its sales in the domestic market stood at 58,133 units as against 47,140 units in the same month last year, up 23 per cent.