Automobile majors Maruti Suzuki, Tata Motors, Toyota and Honda began the new fiscal on a strong note, posting high double-digit growth in their domestic passenger vehicle sales in April.
Market leader Maruti Suzuki India (MSI) recorded its best ever monthly domestic numbers in April, with sales at 1,44,492 units, a growth of 23.4 per cent compared to 1,17,045 units in April 2016.
The company had recorded its previous best monthly domestic sales in September 2016 at 1,37,277 units.
MSI's April sales were driven by the compact car segment and utility vehicles (UV).
The compact car segment comprising Swift, Dzire, Baleno and Ignis grew 39.1 per cent to 6,35,84 units as against 45,700 units in the same month of 2016.
UVs, including Ertiga, S-Cross and Vitara Brezza, rose 28.6 per cent to 20,638 units in April, from 16,044 in the same month last year, it added.
Maruti's nearest rival Hyundai Motor India Ltd (HMIL) reported a 3.57 percent increase in total sales at 56,368 units in April this year. The company had sold 54,420 units in April 2016, HMIL said in a statement.
Domestic sales were up 5.68 percent at 44,758 units during the month, as against 42,351 units in the year-ago period, the company said.
Exports in April stood at 11,610 units, as against 12,069 units during the same month last year, down 3.8 percent.
Commenting on the sales performance, HMIL Director Sales & Marketing Rakesh Srivastava said the company continued its growth momentum "on a strong base of last year".
The company received tremendous response for the new compact sedan Xcent, while other brands Grand i10, Elite i20 and Creta continued to drive volumes, he added.
Tata Motors, meanwhile, reported 23 percent growth in its sales of passenger vehicles in the domestic market at 12,827 units last month.
It was led by a strong pipeline for Tiago and a positive response for new lifestyle UV - Tata HEXA, Tata Motors President Passenger Vehicles Business Unit Mayank Pareek said.
Honda Cars India Ltd (HCIL) reported a 38.1 percent increase in domestic sales at 14,480 units in April. It had sold 10,486 units in the same period last year.
HCIL said it received overwhelming customer response to the newly-launched Honda WR-V and new Honda City.
On the sales performance, HCIL President and CEO Yoichiro Ueno said: "The new fiscal year has begun on a positive note and we hope to continue the growth momentum."
Similarly, Toyota Kirloskar Motor (TKM) reported a 51.81 percent jump in its domestic sales at 12,948 units as against 8,529 units in April last year. It was driven by its newly launched SUV Fortuner.
In the two-wheeler segment, niche bike maker Royal Enfield reported a 24.78 per cent jump in total sales at 60,142 units in April. It had sold 48,197 units in April 2016.
Commenting on the sales figures, Abdul Majeed, partner, PwC India, said they indicate that the sector is getting back to growth trajectory with the impact of demonetisation wearing off.
“The automotive industry is getting back to growth trajectory, overall environment currently support the automotive industry growth this year. Economy is expected do well, and impact of demonetisation is wearing off. With good monsoon predicated, the rural economy will do a lot better compared to last year. GST implementation may have short impact on inflation but good growth in the economy and better monsoon will offset the impact,” Majeed said.
With PTI inputs
Published Date: May 02, 2017 08:16 am | Updated Date: May 02, 2017 08:16 am