Car sales rose 17% in July , helped by a spate of new launches and lower fuel prices. But the fact that the growth was mostly limited to a few companies, and a drop in motorcycle sales, which are considered as a barometer of rural activity , suggested that the automotive industry is still facing a bumpy ride. Maruti Suzuki, Hyundai, Honda as well as Tata Motors drove the splendid performance in car sales in July, while players like Renault, Ford, General Motors and Nissan posted lower numbers. The industry is now waiting for the festivals to boost sales.
As per the SIAM data released on Monday , Maruti was the largest contributor with sales jump -the company posted a 22% increase in July domestic dispatches at 1.10 lakh units.
The local unit of Hyundai Motor posted 25% growth. Its newly-launched Creta SUV remained the largest seller in the segment and has till date more than 28,000 confirmed customer bookings.New products helped Honda also to post an 18% expansion last month with its Jazz premium hatchback outselling the flagship City sedan in the first month of its debut at 6,676 units to 5,180. Analysts tracking the industry predict robust sales in the coming months on the back of new vehicles hitting the market and improved consumer sentiments during the festive period. The Indian passenger vehicle industry had shrunk 0.54% in June, but almost every major carmaker has lined up new products to excite customers and increase showrooms footfalls during the festive season. The most awaited ones are the Maruti Baleno, Ford Aspire, Renault Kwid, Toyota Hiace, Mercedes GT and the Audi Q7.
Among the notable companies that posted negative sales was utility major Mahindra & Mahindra. Its passenger vehicle sales fell 13%. The company is now banking on its new small SUV , the TUV300 which is likely to debut in September, to bounce back.
Two-wheeler sales portrayed a grim picture with motorcycle sales plummeting 6.4% last month on weak rural demand and a shift towards scooters that posted a robust 15% jump in sales over a year earlier. CV sales posted an 8% expansion. The more critical segment of medium to heavy trucks and buses grew 30%. “
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