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Carmakers pin hopes on upcoming Monsoon

15/06/2013 | Author: Autoguide | 0 Comments Back To Home   < Previous News   |   Next news >

Four wheelers demand down

WITH the demand for four wheelers and two-wheelers remaining considerably low, Carmakers like Maruti Suzuki India, Hyundai Motor India, Toyota, Ford and Tata Motors have rest their hopes on the upcoming monsoons to bring in sales. After registering huge sales drop in the fourth quarter of the last financial year, most of the automakers were hoping of revival in the new financial year. Surprisingly, the sales of cars and utility vehicles did not take off in the initial month of April. The manufacturers see the monsoons as a window of opportunity for the revival in demand of vehicles. The coming months will be critical in terms of sale of new vehicles. Speaking about Hyundai’s strategy, Mr Rakesh Srivastava, Senior Vice President, Hyundai Motor India said, "Monsoons are followed by festivals that are high points for auto sales. The predictions for monsoon are positive this year and we expect auto industry will move into a positive trajectory soon." In the new fiscal, car sales have dropped by over 10 percent in April 2013. Also, in 2012-13 domestic car sales declined for the first time in a decade. It recorded (-) 6.7 percent drop from 2.03 million units to 1.89 million units. Good monsoon are positive signs for the auto industry across both rural and urban markets. This year, apart from Honda cars and Renault India, most auto manufacturers registered decline in their sales. Honda Cars and Renault India have been riding high with their sedan - Amaze and SUV - Duster sales despite the gloomy conditions prevailing in the economy. Speaking on it, Mr Sumit Sawhney, Executive Director, Marketing & Sales, Renault India said, "Renault continues to pursue a strong focus on growth in India, with an aim of at least doubling last year’s sales in 2013." Good rains will have a significant impact on sales of two-wheelers as well. All major players including Hero MotoCorp, Bajaj and TVS registered a decline in FY2012-13 sales.

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