Passenger vehicle sales declined last month in a sluggish market, with carmakers aligning stocks ahead of the industry’s transition to BS-VI emission standards in the new fiscal year beginning April 1. The outbreak of coronavirus additionally disrupted the supply of components from China affecting production at automakers such as Tata Motors, Mahindra & Mahindra (M&M) and MG Motor India in February.
Let's take a quick look at some of the carmakers performed in terms of sales in the month of February 2020.
Maruti Suzuki:The country's largest carmaker Maruti Suzuki India (MSI) reported a 1.1 percent decline in sales at 1,47,110 units in February. The company had sold 1,48,682 units in February last year, Maruti Suzuki India (MSI) said in a statement. Domestic sales dropped 1.6 percent to 1,36,849 units last month as against 1,39,100 units in February 2019, it added.
Tata Motors: Tata Motors Ltd reported a decline of 34 percent in domestic sales at 38,002 units in February. The company had sold 57,221 units in the same month last year. Tata Motors' commercial vehicle domestic sales in February was 35 percent lower than last year.
MG Motor India: At MG Motor India, sales during the month stood at 1,376 units, compared with average monthly volumes of 3,000 units. “The unforeseen coronavirus outbreak has severely affected our European and Chinese supply chains, disrupting our production and impacting our sales in February and will continue through March.
Hyundai Motor India Ltd: Korean automaker Hyundai reported a 10.3 percent decline in total sales at 48,910 units in February. The company had sold 54,518 units in the same month last year, HMIL said in a statement. Domestic sales were down 7.2 percent to 40,010 units as against 43,110 units in February 2019, it added.
Honda Cars India: Honda Cars India Ltd (HCIL) reported a 46.26 percent drop in domestic sales at 7,269 units in February. The company had sold 13,527 units in the domestic market in February 2019, HCIL said in a statement.
Mahindra and Mahindra: Mahindra and Mahindra (M&M) reported a 42 percent decline in total sales at 32,476 units in February. The company had sold 56,005 units in the same month last year, M&M said in a statement. In the domestic market, sales were down 42 percent to 30,637 units last month as compared with 52,915 units in February 2019. Commercial vehicle sales fell 25 percent to 15,856 units as against 21,154 units a year ago.
Kia Motors: Kia Motors, one of the latest entrants in the Indian automobile market, continued to register month-on-month growth in sales in February aided by its second product Carnival MPV. The South Korean carmaker sold 15,644 units during the recently-concluded month as against 15,450 units in January.
News Source: Economic Times,