The automobile sector continued to show mixed performance in June with top two carmakers — Maruti Suzuki and Hyundai Motor
The automobile sector continued to show mixed performance in June with top two carmakers — Maruti Suzuki and Hyundai Motor — posting single digit growth in the domestic market. While Maruti sales rose 1.6% to 1,02,626 units, Hyundai posted an 8.3% growth with 36,300 units.
Maruti sales were driven by the compact segment comprising Swift, Ritz, Celerio and Dzire that rose 24.4% to 45,701 units while sales of mini segment cars, including Alto and WagonR, fell 27.9% to 34,336 units.
Tata Motors’ sale of passenger vehicles in the domestic market increased 30% to 10,281 units against 7,911 units in the same month previous year. The growth was led by the new launches of Zest and Bolt, and the new GenX Nano. Similarly, Honda Cars India reported a 12.65% increase in domestic sales at 18,380 units.
Mahindra & Mahindra saw sales contracting 9% to 33,282 units in June compared with 36,452 units in the same month last year.
Pravin Shah, the president & chief executive (automotive), Mahindra & Mahindra, said, “With a normal monsoon till date, an overall positive sentiment and a slew of new launches in the automotive industry, we expect buoyancy in demand.”
In the commercial vehicle segment, Hinduja Group flagship company Ashok Leyland reported a 41% jump in sales of commercial vehicles at 10,461 units in June. Tata Motors registered an 18% growth in sales in the segment.
In the two-wheeler segment, market leader Hero MotoCorp saw a flat growth at a mere 0.14%, whereas Honda Motorcycle & Scooter India reported a 7% increase in domestic sales at 3,31,782 units in June. TVS Motor Company reported a 5% increase in domestic sales at 1,77,769 units in June. The trend remains the same: with weak rural demand motorcycle sales continue to do badly with scooter sales saving the day for the two-wheeler manufacturers.