Demand revival puts auto sales in top gear, Maruti posts 50% growth
Auto sales, a key indicator of the macro economy, showed
significant growth in July, with passenger vehicle volumes improving on the
back of a healthy order book and an uptick in enquiries and bookings in urban
and rural areas. The wage revisions for government employees have also likely
aided demand.
India’s largest carmaker, Maruti Suzuki, posted total sales of
162,462 units in July 2021 as against 108,064 units during the same period last
year, registering a 50 per cent growth. The company’s total sales in the month
include domestic sales of 136,500 units, sales of 4,738 units to other Original
Equipment Manufacturers (OEMS), and 21,224 units for exports.
Maruti said that domestic sales in July remained lower than the
previous high recorded during the same month in 2018-2019 owing to the pocket
lockdowns in different parts of the country. The company said that it is
witnessing an encouraging revival in demand after a slowdown due to the impact
of the second wave.
“With fast unlocking happening across the country, we are
witnessing a good recovery, and in July we have seen a pickup in enquiry that
is roughly 85 per cent of Q1 of the last financial year,” said Shashank
Srivastava, senior executive director, marketing and sales at Maruti Suzuki.
Hyundai,
the country’s second largest carmaker, too, has reported a 45.9 per cent
year-on-year growth in sales. “A positive growth momentum is clearly visible in
the passenger vehicle industry, with the stabilisation of macro-economic
factors, good monsoons and increase in consumer shift towards personal
mobility,” said Tarun Garg, director for sales, marketing and service, Hyundai
Motor India.
Mumbai-based
Tata Motors, which has models such as Nexon, Harrier and Safari in the domestic
market, sold 54,119 vehicles in July — a 19 per cent growth compared to the
same period last year.
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