In top gear, automakers post highest-ever sales in FY18

Our Bureau Updated - December 07, 2021 at 01:01 AM.

Commercial, 2-wheeler sales soar

Chennai, 20-08-2012: The automotive industry in India is one of the largest in the world and one of the fastest growing globally. India's passenger car and commercial vehicle manufacturing industry is the sixth largest in the world, with an annual production of more than 4.3 million units in 2012. According to recent reports, India overtook Brazil and became the sixth largest passenger vehicle producer in the world (beating such old and new auto makers as Belgium, United Kingdom, Italy, Canada, Mexico, Russia, Spain, France, Brazil), growing 18 to 20 per cent to sell around three million units in the course of 2012-2013. In 2009, India emerged as Asia's fourth largest exporter of passenger cars, behind Japan, South Korea, and Thailand. In 2010, India beat Thailand to become Asia's third largest exporter of passenger cars. As of 2010, India is home to 40 million passenger vehicles. More than 3.7 million automotive vehicles were produced in India in 2010 (an increase of 33.9%), making the country the second (after China) fastest growing automobile market in the world. According to the Society of Indian Automobile Manufacturers, annual vehicle sales are projected to increase to 5 million by 2015 and more than 9 million by 2020. By 2050, the country is expected to top the world in car volumes with approximately 611 million vehicles on the nation's roads. Photo:S_R_Raghunathan

Most auto manufacturers, including some passenger car makers, have registered double-digit growth in March. Fiscal 2017-18 also saw some players register their highest-ever sales.

In the passenger vehicle segment, market leader Maruti Suzuki India grew 15 per cent year-on-year (YoY) in March, with sales of 1.47 lakh units (1.27 lakh units). For the fiscal, the company recorded 14 per cent volume growth, selling more than 16.53 lakh units (14.44 lakh units).

Tata sales up 22%

Tata Motors logged a healthy double-digit growth (31 per cent) in March, selling 20,266 units (15,433 units). The company sold 1.87 lakh units during 2017-18, a 22 per cent growth.

India’s second-largest passenger carmaker Hyundai Motor India sold 48,009 units in March, up 7 per cent from the year-ago period.

“...we have closed the financial year 2017-18 on a positive note with a growth of 5.2 per cent and highest domestic volume of 5,36,241 units...,” said YK Koo, Managing Director and CEO, Hyundai Motor India.

Two-wheelers ride high

In the two-wheeler segment, market leader Hero MotoCorp reported the highest-ever sales for the month, as well as annually. It sold more than 7.30 lakh units in March, a 20 per cent growth over the year-ago figures. It reported annual sales of 75.87 lakh units, a growth of 14 per cent. Rival Honda Motorcycle & Scooter India sold 4.17 lakh units during March, up 23 per cent as compared with around 3.39 lakh units in the corresponding month last year. On a yearly basis, the CBR maker sold 57.75 lakh units last year, against 47.25 lakh units in 2016-17.

Bajaj Auto, TVS Motor Company, Suzuki Motorcycle India and Royal Enfield also reported double-digit growth on monthly as well as yearly basis.

CVs shine, too

Similarly, in the commercial vehicles segment, companies like Tata Motors, M&M, Ashok Leyland and Volvo Eicher Commercial Vehicles recorded double-digit sales growth in March.

Published on April 2, 2018 17:10