Automakers report double-digit sales growth in February as demand for personal mobility remains robust

Automakers report double-digit sales growth in February as demand for personal mobility remains robust

Leading automakers Maruti Suzuki, Hyundai and Tata Motors reported robust sales growth in the domestic market in February as demand for personal mobility in the context of the COVID-19 pandemic continues to drive the market.

Others, including Toyota Kirloskar Motor (TKM), Mahindra & Mahindra and Honda Cars India, also reported strong wholesale sales to dealers last month.

The country’s largest automaker Maruti Suzuki India (MSI) said domestic sales rose 11.8 percent to 1,52,983 units last month, compared to 1,36,849 units in February 2020.

The company’s sales during the month were driven by compact and utility vehicle segments.

Deliveries of commercial vehicles to dealers, including Vitara Brezza, S-Cross and Ertiga, also increased by 18.9 percent to 26,884 units, compared to 22,604 units in the same month last year.

“The company is consistently striving to drive an upturn in sales, thereby contributing to the economic recovery and bringing the industry closer to pre-Covid level sales,” HMIL director (Sales, Marketing & Service) Tarun Garg said.

Both domestic and export demand showed healthy double-digit growth last month, reflecting an all-round improvement in buyer sentiment, he added.

Tata Motors saw passenger car sales more than double last month in the domestic market to 27,225 units.

Mahindra & Mahindra also reported a 41 percent increase in passenger car sales to dealers last month. The company sold 15,391 units last month, compared to 10,938 units in the period last year.

“Demand for our SUVs and Pickups remains vibrant and we have a solid order pipeline. However, semiconductor supply, as we all know, is a global problem and that is likely to continue for another 3 to 4 months,” said M&M Chief Executive Officer Automotive Division Veejay Nakra.

Going forward, the company will continue to monitor the situation and work closely with its suppliers to minimize this supply risk, he added.

Japanese automaker TKM posted a 36 percent increase in domestic sales at 14,075 units in February. The company had clocked domestic sales of 10,352 units in February last year.

Honda Cars India said domestic sales in February rose 28.3 percent to 9,324 units, compared to 7,269 units in the same month last year.

“Market demand remains good, which is reflected in our positive sales growth in February,” said Rajesh Goel, Senior Vice President and Director (Marketing & Sales) of Honda Cars India.

However, the shortage of semiconductor-related parts impacted the company’s supply last month, limiting production volume and shipments for certain models, he added.

“In the coming months, we will continue to make production adjustments to reduce the impact on our waiting customers,” Goel said.

The company’s sales more than tripled to 4,329 units last month, compared to 1,376 units in the same month a year ago.

In the two-wheeler segment, TVS Motor Company reported a 15 percent increase in domestic sales to 1,95,145 units last month, compared to 1,69,684 units in February 2020.

Source: Compsmag.com, Twiter

News Highlights

Automakers report double-digit sales growth in February as demand for personal mobility remains robust

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