Passenger car makers across the board reported better retail sales in October as steep discounts and offers revived consumer sentiment in the month dominated by two major festivals. Industry estimates passenger vehicles sales last month inched up 0.7% over October 2018. Automobile manufacturers, including Maruti Suzuki India, Mahindra & Mahindra and Toyota Kirloskar Motor, reported improved sales in October.
Let's take a quick look at some of the carmakers performed in terms of sales in the month of October 2019.
Maruti Suzuki India: The country's largest carmaker Maruti Suzuki India (MSI) posted a growth of 4.5 percent in its domestic wholesales at 1,44,277 units in October as against 1,38,100 units in the same period last year. This is the first time in the last seven months that the company has seen an increase in its domestic sales.
Mahindra & Mahindra: Despite being in the negative territory, Mahindra & Mahindra managed to arrest the decline in sales, posting 11 percent dip at 49,193 units last month as compared to 55,350 units in October 2018.
Honda Cars India: Honda Cars India has sold 10,010 units in October 2019 in the domestic market as compared to 14,187 units, recording a year-on-year sales decline of 29.44 percent.
Toyota Kirloskar Motor: Toyota Kirloskar Motor reported a 6 percent decline in domestic sales at 11,866 units as compared to 12,606 units in the corresponding month last year. Commenting on the sales performance, TKM Deputy Managing Director N Raja said customer demand witnessed a spike in the festive season, especially during Dhanteras and Diwali.
Hyundai: Korean automaker Hyundai reported a drop of 3.8% in wholesale sales to 50,010 units in the month.
Tata Motors: Tata Motors reported a 33.58 percent decline in total sales at 41,354 units in October. The company had sold a total of 62,264 units in the same month last year, Tata Motors said in a statement. Similarly, the company reported a 34 percent decline in total commercial vehicle sales at 25,983 units as against 39,420 units in the year-ago period.
Volkswagen India: Volkswagen India managed to buck the trend with its volume models - the Polo and the Vento registering a 19 percent growth in October this year.
News Source: Economic Times, Url: https://bit.ly/2QlPHrL