The July month remained positive for most of the car makers on year-on-year (YoY) basis, showing growth in domestic sales, for many because of new model launch. Two-wheeler industry showed a mixed a bag and market leader Hero MotoCorp's sales continued to decline.
In the passenger car segment, market leader Maruti Suzuki India sold 1,10,405 units last month in the domestic market as compared to 90,093 units in July 2014.
Second largest company Hyundai Motor India (HMIL) saw a growth of 25 per cent YoY during the month at 36,500 units as compared with 29,275 units in same month last year.
"Hyundai's new age product portfolio led by the newly launched Global SUV Creta sustained the growth momentum. The tremendous response for the Global SUV, i20 Active and Elite i20 showcases the customers increasing preference and early adoption for game changer products offering novelty value in style, first in segment features and strong after sal
"Cut in the petrol and diesel price announced and hopefully easy in upcoming monetary policy with new launches and festive season should help Indian auto industry to grow this fiscal year," Abdul Majeed - Partner Price Waterhouse, said.
Two-wheelers segment
In the two-wheelers segment, market leader Hero MotoCorp reported eight per cent decline in sales during the month, clocking 4.87 lakh units in July as against 5.30 lakh units in July 2014.
However, Honda Motorcycle & Scooter, Suzuki Motorcycle and Royal Enfield all reported positive growth.
In the commercial vehicles segment, while Ashok Leyland and Mahindra & Mahindra reported positive growth, Tata Motors reported five per cent decline YoY in its sales during July.