Continuing upward trend in monthly sales, passenger vehicle segment showed signs of improvement for the fourth consecutive month by registering over 15 per cent growth in the month of August. The positive growth is achieved on the back of hefty discounts doles out by car makers and launch of new vehicles in various segments. With the festivities on verge of commencing at the end of this month, auto cos are hopeful that demand for vehicles will further surge during this auspicious time.
Data collected by Society of Indian Automobile Manufacturers (SIAM), shows that the automotive industry witnessed a collective sales of 16.6 million vehicles. A slew of launches have been slated for the festival season, hence a sharp rev up in sales is likely to be witnessed by the automotive industry. Among the major launches lined up during festive season, Maruti Suzuki India’s Ciaz sedan and Tata Motors’ Bolt hatchback are included.
While new models launched in recent past such as Honda’s first ever MPV Mobilio and Hyundai’s premium hatchback, Elite i20 chinned up substantially in August sales. Delving into the sales data for last month shows that auto maker who drove maximum sales include Maruti Suzuki India, Hyundai Motor and Honda Cars India who collectively pulled in a massive 80 per cent of sales in passenger vehicle segment. Leading the trio with 29 per cent of monthly sales at 98,304 units, Maruti Suzuki India maintained its pinnacle position followed by Hyundai Motors with 19 per cent contribution at 33,750 units. Honda Cars India is presently enjoying its recently acquired third spot in terms of sales, the company witnessed 88 per cent growth in August.
The rise in monthly sales over past few months indicates abrupt change in customer sentiment; officials at SIAM are positive that growth in monthly sales will continue till the end of this fiscal, hence posting a robust increase in sales in current FY.
