The Indian auto sector has been reporting a slump in new car sales over the past months and the month of May 2019 has been no different. The downward trend in the automotive industry continues in May 2019 as well.
Let's take a quick look at some of the carmakers performed in terms of sales in the month of May 2019.
Honda Cars India: Honda Cars India Ltd (HCIL) reported 27.87 percent decline in domestic sales to 11,442 units in May as against 15,864 units in the same month last year. HCIL said it also exported a total of 450 units during last month. After elections, we were expecting an upswing which has not yet come. Factors like liquidity that is affecting capital to auto sector along with an increase in fuel prices have remained a challenge to revive consumer sentiments," HCIL Senior Vice President and Director, Sales and Marketing Rajesh Goel said.
Tata Motors: Tata Motors reported a 26 percent decline in domestic sales to 40,155 units in May. The company had sold 54,290 units during the same month last year, Tata Motors said in a statement. "Tata Motors commercial and passenger vehicles business sales in the domestic market in May 2019 at 40,155 units witnessed a drop of 26 percent, as against 54,290 units sold in May 2018, as market sentiments continued to be muted," it said in a statement.
Maruti Suzuki India: The country’s largest carmaker Maruti Suzuki India Limited (MSIL) reported a 24.5% decline in domestic wholesale volumes at 123250 units in May. Sales of passenger vehicles in the month under review dipped 25% to 121018 units. The company sold 2232 units of light commercial vehicle Super Carry last month. This is an increase of 31.1% over 1703 units sold in the year-who period.
Mahindra & Mahindra: Mahindra and Mahindra today released its monthly sales report, and in May 2019, the carmaker's total sales stood around 45,421 units. In comparison, the carmaker sold a total of 46,848 units during the same month last year, thus registering a de-growth of 3 percent. Mahindra's passenger vehicles segment, which consists of UVs, Cars, and Vans, accounts for 20,608 vehicles in May 2019, as against 20,715 vehicles for the same period last year, a decline of 1 percent.
Toyota Kirloskar Motor: Toyota Kirloskar Motor (TKM) reported a 6.2 percent decline in total vehicle sales to 13,066 units in May, as against 13,940 in the same month last year. In the domestic market, the company reported sales of 12,138 units last month, down 7.4 percent as compared to 13,113 units in May 2018, TKM said in a statement.
Hyundai Motors India: South Korean carmaker, Hyundai Motors India Limited (HMIL) recorded a decline of 5.6 percent in the month of May 2019, the company said in a press release. It sold a total of 42,502 units in the month of May 2019. The company sells nine car models across segments -Santro, Grand i10, Elite i20, Active i20, Venue, Xcent, Verna, Elantra, and Creta. The carmaker has recently launched its compact SUV Venue in order to create excitement among the customers.
News Source: Economic Times,