Automakers are estimated to have dispatched 368,897 items in August as in comparison with 326,980 items a yr earlier, a rise of 12.8%.
August was the eighth month in a row when automotive dispatches to sellers have been greater than 300,000 items, as patrons have been lapping up new fashions amid sturdy financial development. India’s financial system superior 7.8% within the first quarter of the continued monetary yr, in keeping with knowledge launched by the Ministry of Statistics and Programme Implementation on Thursday.
“The August gross sales surpass the earlier excessive of 355,400 items reported in September 2022, making it the best ever month-to-month gross sales not only for August, however for any month in any yr within the business,” Shashank Srivastava, senior executive-sales and advertising and marketing, at automotive market chief Maruti Suzuki India mentioned, addressing reporters after the discharge of the month-to-month gross sales knowledge.
Maruti led the expansion within the home market. The launch of a number of new fashions within the SUV section jacked up home gross sales on the agency by 16.4% from a yr earlier to 156,114 items. Complete gross sales quantity for the Suzuki Motor unit – together with exports and gross sales to alliance companion Toyota Kirloskar – rose to a file at 189,082 items in opposition to final yr’s 165,173 items.
Nevertheless, gross sales of the corporate’s entry-level fashions that embrace the Alto and S-Presso fell 45% to 2,209 items. Maruti’s SUV gross sales through the month had been 41,658 in opposition to Mahindra & Mahindra’s 37,223 items. It helped the corporate retain the highest place within the SUV section. “Our long-term cherished goal of being primary in SUV is on monitor,” mentioned Srivastava.
Gross sales at Hyundai Motor India elevated 8.7% year-on-year to 53,870 items. “The competition season in India has kicked off on a constructive be aware with sturdy Onam gross sales within the Kerala market and this is a sign of the festive fervour in different components of the nation within the coming months,” mentioned Tarun Garg, chief working officer at Hyundai Motor India. SUVs contributed greater than 60% of the corporate’s home gross sales. Its just lately launched Exter SUV has acquired over 65,000 bookings, he mentioned.
After a gradual climb for over a yr, home gross sales at Tata Motors dropped 3.5% to 45,513 items. The primary decline in 37 months got here amid elevated aggressive depth out there. The corporate plans to launch a raft of latest mannequin refreshes and variants within the coming months to retain the amount run of the previous months.
Mahindra & Mahindra in August reported SUV gross sales of 37,270 items, up 26% on-year and a file for the corporate. Whereas demand for its key SUV manufacturers continued to be sturdy, the corporate is conserving a detailed watch on the supply of semiconductors and choose components for a sustained and clean scaleup, Veejay Nakra, Mahindra’s president for the automotive division.