While the country’s largest car maker Maruti Suzuki India reported a 29% growth in sales during September on a yearly basis, the second largest manufacturer, Hyundai Motor on Monday reported flat sales growth during the month at 42,605 units on the back of higher base last year.
The flattish growth is also due to the capacity constraints the car company is facing owing to huge demand for its products like i20 and Creta.
Meanwhile, volumes in the motorcycles and scooter segment continued to increase during the month on the back of recovery in the rural market and high dispatches for the festival season during the current month (October).
“Hyundai with a domestic volume of 42,605 units in September registered highest ever sales of 3,70,448 units for the first six months of the year (CY Jan-Sep ‘16) with a sustained growth of 7.9% year on year,” the company said in a statement.
“With a strong portfolio of modern premium products led by Creta, Elite i20 and Grand, we hope that the festive season will see a benchmark growth in the industry with the evenly spread monsoon along with the 7th Pay commission building positive sentiments in the market,” said Rakesh Srivastava, senior vice president, sales and marketing, Hyundai Motor.
On the two wheeler front, Hero Moto Corp, Honda Two Wheelers, Bajaj Auto and TVS Motors increased their monthly volumes significantly, as they increased the dispatches to the dealers in anticipation of the bumper sales in October during Navratri and Diwali.
Hero Moto Corp – the country’s largest two wheeler manufacturer – saw its domestic volumes increase by 11% y-o-y to 6,74,961 units during the month. Hero’s previous highest in monthly sales was recorded in October last year when the company had sold 6,39,802 units and this is the company’s highest ever sales it the first six months of the fiscal.
Honda two-wheelers on the other hand increased its volumes by 25.29% y-o-y to 5,39,662 units. This is the first time the company touched the 5 lakh sales mark in the domestic market on the back of robust demand for Activa.
Yadvinder Singh Guleria, senior vice-president, sales and marketing, Honda Motorcycle & Scooter India said, “September was a historic month for Honda. The positivity in the economy led by 7th Central Pay Commission, One Rank One Pension (OROP) disbursements and favourable monsoon has translated to a robust return of demand in two-wheeler sector ahead of festivals.”
Pune-based Bajaj Auto also increased its domestic volumes by 23% y-o-y to 2,30,502 units as the company continues to expand its presence in the economy and the executive segment with the CT 100 and the Platina Electric. Chennai-based TVS Motors also saw domestic volumes increase by 33.62% y-o-y to 2,53,974 units.