Robust domestic demand, exports accelerate February auto sales

New Delhi/Cheni, March 2: Robust domestic demand along with a pick-up in exports and the waning effects of demonetisation and GST led automobile manufacturers to report healthy sales figures for February.

Passenger car major Maruti Suzuki India’s overall sales, including exports rose by 15 per cent in February.

The company’s total sales during the month under review rose to 149,824 units from 130,280 units sold during the corresponding month of 2017.

The company’s February exports grew by 24.9 per cent, with 11,924 units that were shipped out during last month, up from 9,545 units sold abroad in February 2017.

Similarly, Hyundai Motor India too reported a healthy growth in its overall sales.

Its cumulative sales for the period under review rose by 5.1 per cent to 55,422 units from 52,734 units.

Commenting on the February sales Rakesh Srivastava, Director — Sales and Marketing, Hyundai Motor India said: “Hyundai grew by 5.1 per cent with a volume of 44,505 units on strong performance of the newly launched modern premium brands New 2018 Elite i20, Next Gen Ver along with super performer Perfect SUV Creta in a growing market on the strength of stable interest rates and fuel prices in a faster growing economy.”

The carmaker exported 10,917 units in February, as against 10,407 units, shipped out during the corresponding month last year.

Another automobile major Tata Motors reported a robust growth of 38 per cent in its domestic sales volume for February.

“In February 2018, Tata Motors registered a growth of 38 per cent at 58,993 units as against 42,679 units due to the continued strong sales performance of its commercial and passenger vehicles business in the domestic market,” the company said in a regulatory filing.

The company’s domestic commercial vehicle sales stood at 41,222 units, up 36 per cent from 30,407 units sold in the same period last year.

Domestic sales volume of passenger vehicles of Tata Motors stood at 17,771 units in February 2018, up 45 per cent from 12,272 units sold in February 2017.

However, “the company’s sales from exports in February 2018 was at 4,768 units, a decline of 3 per cent over last year”, the statement said. SUV major Mahindra & Mahindra said that its sales volume in February stood at 51,127 vehicles, up 19 per cent, from 42,826 vehicles sold in the year ago period.(IANS)