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Sunday, October 24, 2021

Automobiles Sales: The automobile industry is seen returning to the track, improved sales figures in August


People are again becoming interested in buying cars. Image: Reuters

Automobile Sales: There has been a slight improvement in vehicle sales in August. It seems that vehicle sales are coming out from the effect of lockdown. People are again becoming interested in buying cars. Although not every car company’s sales have improved yet, the hope of improving the condition in the coming months seems to be catching up.

Sales of the country’s largest car company Maruti Suzuki India (MSI) increased 17.1 percent to 1,24,624 units in August 2020. In the same month a year ago, the company sold 1,06,413 vehicles. The company’s sales in the domestic market increased by 20.2 per cent to 1,16,704 units from 97,061 units in August 2019. The best performer was Maruti’s mini cars, whose sales rose 94.7 percent to 19,709 units.

MG Motor India sales up 41%

MG Motor India’s retail sales rose 41.2 percent to 2,851 units in August. In the same month last year, the company sold 2,018 vehicles. MG Motor India said that the recently introduced Hector Plus is getting good response from the family segment after the relaxation of the journey. Apart from this, the electric vehicle sector is also advancing. MG Motor India Director Sales Rakesh Sidana said that we have increased the total production in August as compared to July. We are fulfilling Hector’s old orders. Also, we intend to speed up delivery of vehicles in the festive season.

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Hyundai sales fell 6%

Sales of Hyundai Motor India declined 6.06 percent in August and a total of 52,609 vehicles were sold. The company sold 56,005 vehicles in August 2019. However, domestic sales grew by 19.9 percent to 45,809 units from 38,205 units in August last year. Hyundai’s exports stood at 6,800 units in August, 61.79 percent less than the 17,800 units exported in August 2019.

Mahindra sales down 16%

Mahindra and Mahindra sales suffered a shock of 16 per cent in August and stood at 30426 units. The company sold 36,085 vehicles in August last year. Sales in the domestic market fell 13 per cent to 29,257 units as against 33,564 units in August 2019. Exports were down 54 per cent to 1,169 units, while 2,521 vehicles were exported in August last year. Sales in the passenger vehicle segment including Mahindra’s utility vehicles, cars and vans increased by 1 percent to 13,651 units in August. In August 2019, this figure was 13,507 units. In the commercial vehicle segment, the company sold 15,299 vehicles, which is 4 percent higher than the 14,684 vehicles sold in August last year.

48% shock to Toyota

Toyota Kirloskar Motor (TKM) sales fell by 48.08 per cent to 5,555 units in August. The company sold 10,701 vehicles in the domestic market in August last year. TKM Senior Vice President Sales and Service Naveen Soni said in a statement that the beginning of August started with a lot of doubts as there was a huge increase in COVID positive cases across the country including Karnataka. Due to this, the demand and supply scenario was affected. But luckily, demand for most models increased in August.


Source: www.financialexpress.com

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