NEW DELHI:
India’s largest carmakers posted strong monthly sales numbers on Sunday, signalling that demand could be returning to the country’s ailing economy during the festival period.
eading carmakers Maruti Suzuki India, Hyundai and Tata Motors saw better retail sales during the Navratri period this year as compared with last year with pent up demand of last few months aiding the brisk offtake.Maruti Suzuki, the country’s biggest automaker, said it sold 182,448 vehicles in October, an increase of nearly 19% over the same period last year.
The company was hit hard by a months-long lockdown imposed in late March to slow the spread of the novel coronavirus, reporting a quarterly loss in July – the first time since its listing in 2003.
India’s second-largest carmaker Hyundai said that it recorded its highest-ever domestic sales last month, selling 56,605 vehicles. The company’s previous highest monthly sales was in October 2018, when it sold around 52,000 cars.Mahindra & Mahindra, maker of popular sports utility vehicles, reported that domestic sales of passenger vehicles had increased by 1% in October, compared to last year.
“For Mahindra, the festive season has started on a positive note with deliveries and bookings being higher than last year,” Veejay Nakra, CEO of the company’s automotive division, said in a press release.
Some Indian businesses expect a boost in sales during the country’s largest shopping season, spread over the festival period of October and November, with the pandemic shutdown leading to pent-up demand.
Kia Motors, Toyota Kirloskar Motor, Mahindra & Mahindra and Honda Cars India also witnessed robust sales during the ten-day period (including Dussehra) which is considered auspicious for buying new things and property.
The country''s largest carmaker Maruti Suzuki India (MSI) reported around 27 per cent increase in retail sales at close to 96,700 units during the Navratri period this year.
"Our total retail sales were in the range of 96,700 units this year which is more than last year,†MSI Executive Director for Sales and Marketing Shashank Srivastava said when asked about sales during the Navratri period.
The auto major had retailed around 76,000 units in the same period last year.
Tata Motors retailed 10,887 units during the Navratri period this year, an increase of 90 per cent over 5,725 units last year.
The company sold 6,641 utility vehicles and 4,246 cars during the period this year as compared with 3,321 cars and 2,404 utility vehicles during the same period last year.
It is noteworthy that despite the slowdown caused by the pandemic, the company continued to witness strong demand and growth in bookings for all new ''Forever range'' of cars and UVs. Our cars are being appreciated for best in class design, driving dynamics and safety,â Tata Motors Passenger Vehicle Business Unit (Head Marketing) Vivek Srivatsa said.
Being the youngest and most refreshed range, customers are seeing value in the company''s offerings, he added.
We are updating existing variants of our products to provide customers with a variety of options to choose from, all while having the ability to take advantage of premium features at attractive price points,†Srivatsa said.
Kia Motors India said it witnessed a whopping 224 per cent increase in retail sales during the ten day period at 11,640 units.
Toyota Kirloskar Motor also reported robust offtakes during the 10 day Navratri period and Dussehra period.
We retailed around 5,000 units during the period, which is around 13 per cent more than the last year,†TKM Senior Vice President (Sales and Service) Naveen Soni said.
Similarly, Mahindra & Mahindra said its deliveries this year during the period were higher than last year for SUVs and overall including small commercial vehicles (SCVs).
"Our bookings are up by 41 per cent in the SUV category and at an overall level, including pick ups and SCVs, we have seen a growth of almost 20 per cent, compared to the same period last year,†M&M Automotive Division CEO Veejay Nakra said.
Rural continues to drive the momentum and this augurs well for robust festive demand and will help revive the industry in the short term, he added.
Honda Cars India said it witnessed a 10 per cent increase in retail sales during the auspicious period.