Riding on low base and new launches, passenger vehicle manufacturers reported a positive growth in monthly domestic wholesales (dispatches to dealers) in February, mostly by double digits on yearly basis.
Market leader Maruti Suzuki India’s sales grew 10 per cent y-o-y to 1,47,467 units during the month compared with 1,33,948 units in February 2022. Hyundai Motor India (HMIL) saw a sales growth of 7 per cent at 47,001 units (44,050).
“The newly launched Hyundai Ioniq 5, Tucson, Grand i10 Nios and Aura continue to receive tremendous customer response. Moreover, Hyundai Creta building on its strong legacy, has set a benchmark registering sales of 8.3 lakh units since its inception. The overall sales numbers are showing a positive trend across segments,” Tarun Garg, Chief Operating Officer, HMIL, said.
‘Good demand’
‘Nexon’ maker Tata Motors also said its domestic sales grew 7 per cent to 42,862 units (39,981). Mahindra & Mahindra (M&M) reported double digit growth (35 per cent) in sales at 30,358 units (27,663).
Veejay Nakra, President, Automotive Division, M&M, said, “Our recent launches (Thar RWD and XUV400) have received a very positive response and we see good demand across our portfolio. We are monitoring and taking appropriate steps on the supply-chain scenario of semiconductors, which continue to be dynamic.”
Kia India said it has recorded one of the best months by selling 24,600 vehicles last month compared with 18,121 units in the year-ago period. Toyota Kirloskar Motor’s sales grew 75 per cent to 15,338 units (8,745). However, MG Motor and Honda Cars India reported a decline of 7 per cent and 15 per cent, respectively, in their sales.
All-round beat
In the two-wheeler segment, all players reported a double-digit sales growth. Market leader Hero MotoCorp sold 3,82,317 units in the domestic market, up 15 per cent y-o-y, compared with 3,31,462 units in February 2022.
TVS Motor Company, Bajaj Auto and Royal Enfield — all three reported a growth of over 20 per cent in last month’s sales. Only Honda Motorcycle & Scooter India reported a decline of 20 per cent in sales to 2,27,064 units (2,85,677).
In the commercial vehicle segment, companies including Ashok Leyland, Volvo Eicher, Tata Motors and M&M reported double-digit sales growth. Both, M&M and Escorts Kubota in the tractor segment, too, saw stellar sales.