Auto sales enter fast lane with double-digit growth
NEW DELHI: Passenger vehicle sales in India climbed in double digits in February, with compact cars and utility vehicles spearheading the rebound in demand.
Commercial vehicles too posted better sales in line with a pickup in manufacturing and infrastructure activity, according to sales data issued by individual automakers on Monday. Auto sales in India are recorded as wholesales or factory dispatches and not retail sales.
Maruti Suzuki, which sells one in every car sold in the country, recorded a 9.9% rise in sales from a year ago in February to 147,483 units. The growth was due to continuing demand for the company’s affordable, fuelefficient hatchbacks as more people opted for personal mobility. Hyundai Motor India continued to reap benefits of a shift in customer preference towards sport-utility vehicles in urban areas. Sales jumped 29% from a year ago in February to 51,600 units, powered by the Venue and Creta SUVS, and the new version of the i20 hatchback.
To be sure, the higher factory dispatches come on the back of a low base in the year-earlier month when automakers were facing a squeeze in demand due to an economic slowdown and increase in vehicle prices due to change in norms.
Passenger vehicle sales at Tata Motors Ltd soared 119% to 22,725 units in February as demand for its compact vehicles like Altroz and Tiago continued to rise.
Tata Motors, which launched the Safari SUV model last month, said February passenger vehicle sales were its highest-ever in nearly nine years.
Commercial vehicle sales continued to show signs of a recovery after more than two years of decline, reflecting a faster-thanexpected bounceback in economic activity. Commercial vehicle sales at Tata Motors rose 22% from a year ago in February to 31,248 units while Ashok Leyland’s sales increased by 20% to 12,776 units.
In the two-wheeler segment, Pune-based Bajaj Auto recorded a marginal 1% increase in sales to 148,934 units while sales at Chennai-based TVS Motor Co. jumped 15% to 195,145 units.