Leading carmakers Maruti Suzuki, Hyundai and Tata Motors reported strong growth in sales in the domestic market in February, as demand for personal mobility continued in the midst of the COVID-19 epidemic.
Others including Toyota Kirloskar Motor (TKM), Mahindra & Mahindra and Honda Cars India also reported strong wholesale remittances to dealers last month. The country’s largest carmaker Maruti Suzuki India Ltd (MSIL) said domestic sales rose 11.8% to 1,52,983 units last month from 1,36,849 units in February 2020.
The company’s sales during the month were driven by the compact and utility vehicle segment.
Last month, the company’s compact segment models, including the Swift, Celerio, Ignis, Baleno and Dzire, rose 15.3% to 80,517 units, compared to 69,828 cars in February last year.
Similarly, Vitara dispatches utility vehicle dealers including Brezza, S-Cross and Ertiga, which grew by 18.9% to 26,884 units as compared to 22,604 units in the year-ago month.
Rival Hyundai Motor India reported a 29% increase in domestic sales to 51,600 units as compared to 40,010 units in February 2020.
HMIL Director (Sales, Marketing and Services) Tarun Garg said, “The company is constantly striving to revive sales, which has contributed to the economic recovery and brought the industry closer to pre-Kovid level sales.”
He said both domestic and export demand had registered healthy double-digit growth in the past month, improving buyer sentiment all-round.
Tata Motors saw more than double its passenger vehicle sales increase to 27,225 units in the domestic market last month. Others including Toyota Kirloskar Motor (TKM), Mahindra & Mahindra and Honda Cars India also reported strong wholesale remittances to dealers last month.
Similarly, Mahindra & Mahindra reported a 41% increase in sending its passenger vehicles to dealers last month. The company sold 15,391 units last month, compared to 10,938 units in the year-ago period.
“Demand for our range of SUVs and pick-ups remains constant and we have a strong order pipeline. However, supply of semiconductors, as we all know, is a global issue and is likely to continue for another 3 to 4 months, ”said M&M Chief Executive Officer, Automotive Division Vijaya Nakra.
He further added, the company will continue to monitor the situation and work with its suppliers to mitigate this supply risk.
Japanese automaker TKM reported a 36,075 unit increase in domestic sales in February. The company saw domestic sales of 10,352 units in February last year.
“We started the year on a positive note and this trend continues as we close the second month of the year. Wholesalers have been very encouraging and we are seeing a higher influx of customer orders on the month, Both contribute significantly to the development of the story, ”said TKM Senior Vice President Naveen Soni.
Honda Cars India said its domestic business grew by 28.3% to 9,324 units in February as compared to 7,269 units in the same month last year.
“The market demand remains good, reflecting our positive growth in February sales,” said Rajesh Goyal, senior vice-president and director (marketing and sales), Honda Cars India.
However, the lack of semiconductor related parts affected the company on the supply front last month, which limits production volume and dispatch for some models, he said.
“We will continue production adjustment in the coming months to reduce its impact on our waiting customers,” Goyal said.
Nissan Motor India reported a growth of over 4,244 units in 4,244 units in the same month last year, behind the newly launched compact SUV magnets and other existing vehicle models. Similarly, MG Motor India said that it recorded its best retail sales of 4,329 units in February.
Sales of the company tripled last month to 4,329 units as against 1,376 units in the same month a year ago.
In the two-wheeler segment, TVS Motor Company reported a 15% increase in domestic sales of 1,95,145 units last month as compared to 1,69,684 units in February 2020.