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Archives

Auto sales see 7.5-pc jump in April

11/05/2018 | Author: Autoguide | 0 Comments Back To Home   < Previous News   |   Next news >

FY starts on positive note

Kick-starting the new financial year on a strong note, passenger vehicles reported growth of 7.5 per cent in cumulative sales volume to 2,98,504 units in April compared to a year-ago period. This was the sixth month of continuous growth.
 
Within the passenger vehicles, the sales for cars, utility vehicle and vans grew by 4.89 per cent, 11.92 per cent and 18.99 per cent respectively. The overall CV segment registered a growth of 75.95 per cent in the month. M&HCVs increased by 169.26 per cent and LCVs grew by 43.92 per cent in April 2018 over last year. 
 
Three-wheeler sales increased by 54.17 per cent while two-wheelers grew at 16.92 per cent. Within the two-wheelers segment, scooters, motorcycles and mopeds grew by 12.63 per cent, 19.38 per cent and 16.86 per cent respectively.
 
Prospects of a better economic growth, a favourable monsoon and a sustained benign interest, coupled with new model launches perked up the sales, according to experts. 
 
Maruti Suzuki led the pack with its sales jumping 13.4 per cent to 1,63,434 units over the same period last year. The volumes were led by a robust 32 per cent increase in volumes of compact models such as Swift, Ignis, Celerio, Baleno, Dzire, and Tour S.
 
Besides the Baleno, volumes in the segment were bumped up by the new generation Swift launched in February. Maruti’s two old workhorses — Wagon R and Alto — have been losing traction. The sales of the two brands dropped 2.8 per cent over a year ago as buyers’ preference for pricier and premium models continued.
 
Hyundai Motor India, the second largest player, also saw an increase, though at a slower pace. The maker of the Creta SUV and i20 hatchback sold 46,735 units, up 4.4 per cent over the last year.
 
It was a good start for Mahindra and Mahindra too with its sales expanding 13 per cent 21,927 vehicles over the last year. The Mumbai-based company launched the new XUV5OO on 14 April. With the launch of the new model, Mahindra hopes to recover the ground it has lost to the rivals in the SUV segment.
 
Honda Cars sold 9,143 units in April 2018 against 14,480 units in same month last year, recording 36.8 drop in sales. 
 
Closing in on the archrival Mahindra, Tata Motors saw sales climbing up since the launch of the new age models. The company sold 17,235 units, up 34 per cent over the last year. “While there were challenges in the market, strong demand for new generation products such as the Tiago, Tigor, Nexon and Hexa lead the growth,” said Mr Mayank Pareek, President, Passenger Vehicle Business unit at Tata Motors.
 
Dispatches at Toyota Kirloskar Motor remained muted during the month, a total of 13,037 units against 12,964 units over a year ago, growing by a mere 0.6 per cent. 
 
Ford India was the only company that saw sales dip during the month. The company dispatched 7,428 units, down 5.4 per cent over the last year. Mr Anurag Mehrotra, President and MD, Ford India, said that an increasing inflation trajectory which might weigh on customer’s access and cost to credit, coupled with increasing crude prices could lead to passenger vehicle industry growing “at low single-digits so far this year.”
 
Mr Subrata Ray, analyst with ICRA, expects the passenger vehicles sales to grow 8-9 per cent in the current financial year, provided monsoon plays out well. The April sales have been better than expectations, he said, adding that increasing crude prices or inflationary trend is unlikely to have an impact on sales as the fundamentals continue to be strong. 
 

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