Festive season: Carmakers see light at the end of tunnel
By ENS Economic Bureau | Published: 02nd October 2013 07:40 AM |
Despite declining sales for many months now, the Indian automobile sector showed some signs of revival led by the country’s largest car maker Maruti, which rose by 11.7% in total sales (domestic & exports) in September 2013 when compared to the same month in the previous year, bringing some positive signs ahead of the festive season.
The sector did see some casualties as Tata Motors posted a -40.5% decline in passenger vehicle sales during the month. Maruti sold 1,04,964 units against 93,988 units in the same month last year.
Foreign automobile makers continued their good run with sales with Japanese car maker Honda leading the way with an 88% increase in September 2013 as the company sold 10,354 units as against 5,508 units sold during the same period in 2012. Most auto companies had risked further decline in sales when they increased prices of their models in September due to the depreciating rupee and high import cost.
Auto companies continued to cash in on export potential as Maruti saw a phenomenal 180.8% increase as it exported 14,565 units in September 2013 against 5,187 units in the same month last year.
“The sales figures have set a positive tone for the upcoming festive season,” Jnaneswar Sen, Senior Vice-President (Marketing & Sales) for Honda said.
Korean car maker Hyundai also posted a -4% fall in sales as the company sold 51,418 units in September 2013 when compared to 53,557 in the corresponding month in 2012. American car maker General Motors saw a 4.79% decline.
“In the current market scenario volume growth is a big challenge,” Rakesh Srivastava, Senior. Vice-President, (Sales & Marketing) at Hyundai said.
Two and three wheeler maker TVS Motor Company has registered a 16 per cent increase in its total sales at 1,97,409 units in September.
The Chennai-based company had sold 1,70,097 units during the same month of previous year.
Sales of total two wheelers grew by 15 per cent from 1,65,092 units sold during September 2012 to 1,89,609 units in September 2013.
Also read: Maruti Suzuki September sales up 11 percent