Indian automotive market, one of the largest in the world, saw mixed reactions in the month of February. It is reported that factors like higher fuel prices and increased interest costs are some of the factors that affected the industry adversely. On the other hand, factors like availability of ease finances, more models to choose from and many more factors helped in increasing the sales.
The leading carmaker, Maruti saw a rise in sales by 8.7%. The company sold 118551 units in the month of February alone, which is far better than the 109104 unit of car sold during the same month last year. The domestic sales figure increased from 99758 units to 107892 units sold in the month of February 2014. This denotes an increase of 8.2% for the month of February.
On the other hand, Maruti’s rival, Tata motors reported an increase of 10.69% in their total sales figures. This is inclusive of exports. The total units sold were 44225 as against 39951 units in the month of February 2014. The domestic sales grew by 14%, which amounts to 40314 units against 35315 units for the corresponding period last year.
Another local player, Mahindra and Mahindra also reported mixed figures. The overall sales declined by 10%. Mahindra and Mahindra managed to sell only 38033 units as against 42166 units during the month of February 2014. The domestic sales of M&M also plummeted by 11%, indicating a reduction of 4420 units from last year.
As far as another major player Hyundai Motors is concerned, their overall sales grew by 2.4% as compared to the figures of last year. This was inclusive of their exports. Hyundai sold 47612 units as compared to the 46505 units sold during February 2014. The domestic sale rose by 9.7 %. It denotes an increase of 1107 units from the last year’s figure of 46505 units.
Other companies like Toyota Kirloskar Motors and Honda also saw growth rates of 17% and 16% respectively. Toyota sold total of 13280 units as against 11286 units for the last year. Honda too sold 2359 units more than the last year
Indo-Japanese car joint venture Toyota Kirloskar Motor closed last month with a total sales growth of 17 percent. The company sold 13280 units including exports in the month under review from an off-take of 11286 units in February 2014.
However, GM and its subsidiaries saw the sales plunging by 22.95%. They managed to sell only 4,320 when compared to the 5607 units sold in the corresponding month of last year.
In the two-wheeler segment, Honda Motorcycles and TVS Motors saw an increase in their sales volume, whereas Bajaj and Hero Motocorp took a beating in sales, making it a mixed bag of performance.
Source :- http://autoportal.com/ & http://bikeportal.com/
