Comments
Improved demand and positivity in the market pushed up sales of passenger cars and two-wheelers during May, as compared to the same month last year, while sales of commercial vehicles continued to show negative growth year-on-year.
In the passenger car segment, market leader Maruti Suzuki India reported a growth of 15 per cent year-on-year (YoY) in May with sales of 1.30 lakh units (1.13 lakh units).
Mild growthThe second largest manufacturer, Hyundai Motor India, reported mild growth with sales of 42,007 units during the month, against 41,351 units in May last year.
‘Thar’ maker Mahindra & Mahindra also reported marginal growth, reporting sales of 20,290 units in May, compared with 19,635 units in the corresponding month last year.
“Given the favourable monsoon projections and the focused investment in the rural sector, we have a robust outlook for the future which is expected to spur demand.
“At Mahindra, we look forward to a growth momentum on the back of our existing product portfolio as well as the upcoming new products,” Rajan Wadhera, President, Automotive Sector, M&M, said.
Honda Car India also reported a growth of 13 per cent YoY to 11,278 units, against 9,954 units in May 2016.
However, Ford India and Toyota Kirloskar Motor reported a decline in sales on YoY basis. In the two-wheeler segment, Hero MotoCorp sold around 6.34 lakh units during the month, up 9 per cent against 5.83 lakh units in May 2016.
Honda Motorcycle & Scooter India reported 23 per cent growth in sales at 5.10 lakh units in May, compared with around 4.16 lakh units in corresponding month last year.
Chennai-based TVS Motor Company also reported 16 per cent growth in its two-wheeler sales at more than 2.40 lakh units, against around 2.07 lakh units in May 2016.
Niche bike maker Royal Enfield reported a 24.87 per cent jump in total sales at 60,696 units in May. It had sold 48,604 units in May 2016.
India Yamaha Motor reported 10.65 per cent increase in sales at 69,429 units in May.
In the commercial vehicles segment, most of the companies have reported negative growth on the sales YoY basis.
Comments
Comments
Comments have to be in English, and in full sentences. They cannot be abusive or personal. Please abide by our community guidelines for posting your comments.
We have migrated to a new commenting platform. If you are already a registered user of TheHindu Businessline and logged in, you may continue to engage with our articles. If you do not have an account please register and login to post comments. Users can access their older comments by logging into their accounts on Vuukle.