Industry

Auto sales back on growth track

Industry continues to remain cautious due to hike in interest rates and inflation

After a de-growth in sales in October, the automobile sector, especially the commercial vehicle and passenger car segments, registered a rise in sales in November as compared to the same period in the previous year. In spite of a slowdown in the economy, commercial vehicle majors such as Tata Motors and Mahindra & Mahindra have reported a good growth in sales numbers in November.

However, the industry continues to remain cautious due to unprecedented hikes in interest rates, fuel prices, growing inflation and negative market sentiments.

Tata Motors

Tata Motors' commercial vehicle sales rose by 41 per cent to 28,673 units. . The company sold 6,401 units of Nano during the month. Sales of the ‘Indica' range jumped 91 per cent to 10,926 units . Sales of ‘Sumo', ‘Safari' and ‘Aria' grew by 35 per cent to 4,197 units (3,106 units).

M&M

Mahindra & Mahindra reported a 52 per cent rise in overall vehicle sales to 40,722 units . Total sales of passenger vehicles grew 44 per cent to 17,813 units .

Sales of the company's Gio and Maxximo mini-trucks and other four-wheeler commercial vehicles increased by 73.6 per cent to 13,362 units (7,699 units). Light commercial vehicle sales from Mahindra Navistar Automotives stood at 1,095 units (676 units).However there was a marginal drop in tractor sales by M&M to 17,527 units, down from 17,993 units in the corresponding month last year.

Maruti Suzuki

Maruti Suzuki recorded sales of 82,870 units in the domestic market last month, down 19.2 per cent from 1,02,503 units in November, 2010. Maruti's sales has fallen for the sixth consecutive month this fiscal. The company has been hit by dip in sales of mini cars including the M800, A-Star, Alto and WagonR, which fell by 27.2 per cent to 38,921 units from 53,489 units in November, 2010.

Hyundai Motor

Hyundai Motor India recorded a 10.9 per cent jump in domestic sales. Exports have climbed 69.8 per cent, taking aggregate growth for the month to 28.1 per cent.

Nissan Motor

Nissan Motor India reported sales of 2,688 units in November, 2011. Growth in sales was driven by the sales of the recently launched Sunny Sedan, which accounted for 1,131 of the November total.

TVS Motor

TVS Motor Company sold 175,535 two-and three-wheelers registering a growth of 12 per cent. Total two-wheeler sales grew by 12 per cent with sales of 172,829 units in November (153,882 units).

The company sold 2,706 units of three-wheelers (3,159 units).

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Printable version | Feb 21, 2020 12:49:56 AM | https://www.thehindu.com/business/Industry/auto-sales-back-on-growth-track/article2678652.ece

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