Easing inflation: Passenger vehicle sales up 8%https://indianexpress.com/article/business/business-others/easing-inflation-passenger-vehicle-sales-up-8/

Easing inflation: Passenger vehicle sales up 8%

After months of decline, sales of two-wheelers too rose marginally by two per cent by 11,64,864 units ahead of the upcoming festive season.

New launches, decline in oil prices and moderating inflation rates saw sales of passenger vehicles (PV) increase by around 8 per cent to 2,18,110 units last month for the seven leading auto manufacturers who reported their sales number on Thursday. After months of decline, sales of two-wheelers too rose marginally by two per cent by 11,64,864 units ahead of the upcoming festive season.

Sales of passenger vehicles grew largely on the back of strong growth posted by industry majors Maruti Suzuki (MSIL) and Hyundai India (HMIL). While sales of MSIL went up by 6.8 per cent to 1,06,083 units in the domestic market, that of Hyundai rose to an all-time high by 21.3 per cent to 42,505 units. Rakesh Srivastava, senior VP (sales and marketing), HMIL said, “Hyundai grew by 21.3 per cent with its highest-ever monthly domestic sales of 42,505 units in a single month in its last 17 years on the strong performance of its modern premium brands – Creta, Elite i20, i20 Active and Grand.”

[related-post]

At Honda Cars India (HCI) and Ford India new launches — Jazz, Aspire, Figo — boosted numbers. Sales of HCI went up by a robust 23 per cent to 18,509 units, Ford’s volumes were up by 22 per cent to 8,274 units.

ratesTata Motors and Mahindra & Mahindra (M&M) registered a dip in sales numbers in september. While the drop for Tata Motors was marginal by 1.3 per cent at 11,774 units, at M&M it was sharper by 7.5 per cent at 19,564 units. Mahindra, however, is hopeful the industry will fare better in the coming months.