Automobile sales in October revealed a downturn in passenger car offtake due to a sluggish economy plagued by high fuel and interest costs.
Automobile sales in October revealed a downturn in passenger car offtake due to a sluggish economy plagued by high fuel and interest costs.
However, two-wheeler manufacturers started the festive period with healthy buying support from consumers.
Sales of the country’s largest passenger car manufacturer, Maruti Suzuki, grew marginally by 1.9 percent at 105,087 units in last month due to healthy export demand. The company sold 103,108 units in October 2012.
There was a sharp rise in the company’s exports. Maruti Suzuki exported just 9,025 units in the month under review, but that was 27 percent more than 7,106 units sold overseas during the same month last year.
The company’s domestic sales increased marginally up 0.1 percent to 96,062 units during the period under review from 96,002 units sold in October last year.
Chennai-based Hyundai Motor, on the other hand, reported a decline of 14.6 percent in total sales last month on the back of sluggish exports, which stood at 50,212 units as compared to 58,784 units sold in the corresponding month of 2012.
According to the company, its domestic sales increased by 0.6 percent in the month under review and stood at 36,002 units from 35,778 units sold in the corresponding month of last year.
However, the country’s largest passenger car exporters’ sales overseas declined by 38.2 percent last month at 14,210 units, down from 23,006 units shipped-out in October 2012.
Other major players in the Indian auto market Tata Motors and Mahindra & Mahindra (M&M) reported a drop in sales.
Tata Motors’ total sales including exports in October fell by 28 percent, which stood at 51,638 units from 71,771 units sold in the corresponding month of 2012.
Tatas’ domestic passenger vehicle sales were down 33 percent in the month under review and stood at 14,133 units from 21,119 units off-take in October, 2012.
The company’s commercial vehicles sales were lower by 30.26 percent in the month under review at 32,793 units from 47,026 units sold in October 2012.
However, the company’s exports grew by 29.95 percent at 4,712 units being sold last month from 3,626 units being shipped out in the corresponding period of last year.
M&M’s off-take last month was down five percent at 43,289 units from at 50,558 units from 53,439 units in the corresponding month of last year. Domestic sales stood at 47,787 units during last month, as against 51,316 units during October, 2012, a decline of seven percent.
“In spite of new launches, the auto sector has witnessed a de-growth of nearly five percent during the first half of 2013-14 and the recent repo rate hike may prove to be a dampener for potential customers,” Pravin Shah, chief executive, automotive division, Mahindra & Mahindra, said in a statement.
However, the company’s exports during the month under review grew by 31 percent at 2,771 units from 2,122 units being shipped off in the corresponding period of last year.
On the other hand, two-wheeler major Hero MotoCorp reported its highest sales mark for a month in October at 625,420 units, a growth of 18.17 percent from 529,215 units despatched during the corresponding month of last year.
“This sales momentum has been helped by our star brands Splendor and Passion and also by the new products,” said Anil Dua, senior vice-president, marketing and sales, Hero MotoCorp, in a statement.
Two- and three-wheeler maker TVS Motor reported a sales growth of four percent last month and stood at 197,905 units from an off-take of 190,438 units during October 2012.
Honda Motorcycle and Scooter India too logged healthy sales of about 50 percent last month which stood at 375,741 units from an off-take of 250,408 units in October 2013.
Suzuki Motorcycle India reported a 9.27 percent increase in their October sales which stood at 39,562 units from 36,206 units off-take in the corresponding period of last year.
Yamaha Motor India reported a sales growth of 30.3 percent last month at 64,552 units from an off-take of 49,522 units sold in October 2012.
-IANS
