Auto sales hit an all-time monthly high in August with the industry recording a growth of 10%. Manufacturers hit the accelerator in anticipation of robust demand during the festive season, starting with Onam earlier this week.
Meanwhile, two-wheelers sales in August were dragged down by Bajaj Auto, following a fall in its wholesale numbers. Domestic sales of the country’s top six motorcycle makers, who control more than 90% of the volumes, grew 1.3% year-on-year (y-o-y) to 1.49 million units. However, excluding Bajaj Auto’s numbers, the industry grew at a healthy 7.4%.
Maruti Suzuki reported wholesales of 189,082 units in August, its highest ever monthly sales volume, led by continued strong demand and launch of new models in the fast-growing sport-utility vehicles (SUV) segment.
Hyundai Motor India, the country’s second-largest carmaker, saw a 9% growth in volumes to 53,830 units in August.
Tarun Garg, COO, HMIL, said, “The festival season in India has kicked off on a positive note with a strong Onam sales in Kerala and this is an indication of the festive fervour in other parts of the country in the coming months.”
In line with its plans to replace the Nexon with an upgrade later this month, which has led to a fall in supplies of the existing model of the compact SUV, Tata Motors, the country’s third-largest carmaker, witnessed a 4% fall in total domestic volumes during August.
Mahindra & Mahindra saw a 25% y-o-y jump in volumes in August to 37,270 units.
Bajaj Auto became the only player recording a fall in domestic volumes during August. It saw a 31% decline in volumes to 160,820. Rakesh Sharma, executive director, Bajaj Auto, said, “It’s just the base effect, as we were building up stock after resumption of semiconductor supplies last year. Our growth in retail, however, was 19% in August.”
Two-wheeler market leader Hero MotoCorp posted a 5% y-o-y increase in vehicle dispatches to nearly 473,000 units. Honda Motorcycle and Scooter India, the country’s second-largest two-wheeler maker, said its domestic volumes grew by 7% y-o-y to 451,200 units during August.
TVS Motor Company saw its volumes grow 7% y-o-y to 256,619 units in August.
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