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Barring trade chief Maruti Suzuki India Ltd (MSIL), all different main vehicle producers gained from the festive and pent-up demand and introduced growth in home passenger automobile sales in November.
While MSIL introduced sale of 1,35,775 models of passenger automobiles (PVs) in November, witnessing a 2.four per cent dip in sales over that within the corresponding interval final yr, Hyundai Motor India Ltd — the second largest automotive producer — introduced a 9.four per cent rise in sales in final month.
Other main gamers like Tata Motors, Mahindra & Mahindra (M&M), Toyota Kirloskar Motors (TKM), and Honda Cars too introduced growth in home sales in November. While Tata Motors witnessed a 108 per cent rise in PV sales at 21,641 models, M&M noticed a 24 per cent growth in sales (18,212 models) over the year-ago interval. Honda and TKM introduced growth in sales by 54 per cent and a pair of.four per cent, respectively.
While the broader trade continues to witness growth in sales on year-on-year foundation, nearly all producers witnessed a decline in month-on-month (m-o-m) sales for the primary time in seven months. Ever because the announcement of lockdown in March, all producers have reported a growth in m-o-m sales for the final six months.
While MSIL introduced a 17 per cent fall in sales over October 2020, Hyundai and Honda noticed a dip in m-o-m sales by 13.eight per cent and seven.eight per cent, respectively. M&M and TKM too noticed their sales fall by 2.2 per cent and 31 per cent, respectively, over that in October.
The decline in November sales over that in October, regardless of Diwali falling in November, has raised questions over the sustainability of demand revival.
“Given strong rural growth and signs of improvement in economic activities, we are hopeful to see this positive momentum continue post the festive season,” stated Veejay Ram Nakra, CEO, automotive division, M&M.
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