HEADLINES:
December 14 2018
Automobile companies step on the gas in February
02 March 2018

Market leader Maruti Suzuki posts 14.2% growth in sales

A majority of automobile firms posted good growth in sales in February.

Market leader Maruti Suzuki on Thursday said it posted a growth of 14.2% in sales to more than 1.36 lakh units in February. The sales were driven by an almost 39% growth in compact segment cars, including Swift, Ignis, Celerio, Baleno, Dzire, Tour S, to 65,213 units. Sales of mini segment cars — Alto and WagonR— rose 2% wile those of utility vehicles increased almost 14%.

The company exported 11,924 units last month.

For Hyundai Motor India, domestic sales rose 5% to 44,505 units during the month under review. The company said it exported 10,917 units. Tata Motors posted a growth of 45% to 17,771 units against 12,272 units in the year-ago month. The demand was driven by the company’s Tiago, Tigor, Nexon and Hexa models. “The passenger car segment registered a strong growth of 17% while the UV [utility vehicle] segment grew by 165%, clearly showing a trend of growing customer base across segments,” the company said.

Toyota Kirloskar Motor sold 11,864 units in February 2018. “We are happy that we have been able to sustain the positive growth trend registering a 3% growth in February,” said N. Raja, deputy managing director, Toyota Kirloskar Motor.

Ford India sold 9,041 units in the domestic market compared with 8,338 units in the same month last year, a growth of 8%. Exports, however, declined to 14,924 units compared with 15,688 units in February 2017.

“Improvements in GDP growth and other industry indicators continue to support the year-on-year growth of the auto industry,” said Anurag Mehrotra, president and managing director, Ford India. “However, there are headwinds in terms of impending increase in interest rates, crude prices, and inflation.

We also believe the increase in customs duty and the cess of exports will drive up prices, with a potential of impacting demand.”

However, Honda Cars India reported decrease in sales. The company said it sold 11,650 units last month, a decline of 18% from 14,249 units in February 2017. It sold 375 units of Brio, 2,257 units of Jazz, 933 units of Amaze, 3,885 units of City, 3,364 units of WR-V, 822 units of BR-V and 14 units of CR-V.

Two-wheelers

In the two-wheeler segment, market leader Hero MotoCorp posted total sales of more than 6.29 lakh units in February 2018, a growth of 20% over the same month last year.

“This sales performance by Hero MotoCorp has been driven by strong growth in scooters, in addition to the continued momentum across the range of its motorcycle brands,” the firm said.

Royal Enfield sales in the domestic market rose 26% to 71,354 units. The company sold 1,723 units in the international markets. Suzuki Motorcycle India sold 46,147 units in domestic sales, a growth of 37%. Chennai-based TVS Motors said that its sold more than 2.30 lakh units in February in the domestic market, a growth of 33.5%. Honda Motorcycle & Scooter India’s sales grew 32 % in the domestic market to 4.89 lakh vehicles.

 

 

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