Friday, 20 July, 2018

Maruti registers 15 pc rise in vehicle sales

Maruti registers 15 pc rise in vehicle sales Maruti registers 15 pc rise in vehicle sales
Nellie Chapman | 02 March, 2018, 08:06

In the PV segment, except for Maruti Suzuki India (MSIL) and Tata Motors, none of the major players reported double-digit figure. The company sold a total of 130,280 units in February 2017.

MSI, the countrys largest vehicle maker, reported 15 per cent increase in total sales at 1,49,824 units as against 1,30,280 units in the year-ago month led by sales of the compact segment comprising Swift, Estilo, Dzire and Baleno. Overall domestic sales increased 35 per cent to 2,14,023 units against 1,59,109 units in February previous year, Bajaj Auto said in a statement.

Benchmark NSE Nifty50 index was down 12 points at 10,481, while the BSE Sensex was 72 points down at 34,112. Growth in the domestic market was also quite impressive, with the numbers reaching 137,900 units compared to the 120,599 units sold during the same month last fiscal year, registering a growth of 13.3 per cent.

While old-models such as Alto and WagonR grew 2.1% after declining for several months, sales of the mid-sized Ciaz sedan declined almost 17%, in line with a trend prevalent since July 2017, when the government withdrew the benefits extended to hybrid models under the goods and services tax (GST) regime. Mahindras commercial vehicle sales during the month jumped 28 per cent to 20,946 units compared to 16,383 units in the same month of 2017.

Overall domestic sales increased 35 per cent to 2,14,023 units against 1,59,109 units in February previous year, Bajaj Auto said in a statement. Based on the details we have so far, Maruti Suzuki India saw a substantial spike in sales numbers last month with total sales almost touching the 1.5 lakh mark, which was majorly aided by the sales of the new-gen Swift hatchback.

Toyota Kirloskar Motor, the Indian unit of the Japanese automobile giant Toyota, reported a 3 per cent increase in domestic sales at 11,864 units in February. Similarly, Royal Enfield reported a 25 per cent growth in total sales at 73,077 units in February.

Tata Motors' overall sales grew by 38 percent at 58,993 units against 42,679 units due to the strong showing of its commercial and passenger vehicles business in the domestic market. "This performance comes on the back of a sustained momentum and demand, both in the personal and commercial vehicle segments, which we believe will also continue in the month of March". The company had sold 5,24,766 units in the corresponding month a year ago.

Sales at Mahindra came in at 22,389 units, an 8.1% rise from a year ago.