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Seven of India’s biggest car brands, which control 95% of the domestic market, sold 329,113 units to their dealers last month. Four of the top five manufacturers posted either a decline or no growth during the month.
After two consecutive months of decline, the passenger vehicle segment is estimated to have closed July with a growth of just under 1% year-on-year in volumes even as retails continued to remain under pressure following weak consumer sentiments.
Seven of India’s biggest car brands, which control 95% of the domestic market, sold 329,113 units to their dealers last month. Four of the top five manufacturers posted either a decline or no growth during the month.
Last month dealers reported that heavy monsoon and tight liquidity weighed on booking conversions to actual sale despite incentive schemes. Inventory period, they said, remained elevated at around 53 days.
Maruti Suzuki, the country’s biggest carmaker, dispatched 137,776 units to its dealers, which was nearly unchanged compared to last year’s July. This comes on the back of the company recording its worst-ever domestic sales in a month in more than 18-months in June.
Partho Banerjee, head of sales and marketing, Maruti Suzuki India, said, “Wagon R sales have started to rebound, bookings are going up and the numbers have (sales) started to go up again. The festival season should help bring demand for this car.”
The combined sales from its mini and compact segment posted a growth in July for the first time since January. The segment has seen consistent contraction in demand since the past several months.
Mahindra & Mahindra (M&M) defies the market trend
SUV heavyweight Mahindra & Mahindra (M&M) remained an outlier beating the general trend of the market. With a jump of 20% y-o-y in volumes during July, the company clocked sales of nearly 50,000 units.
Nalinikanth Gollagunta, CEO, automotive division, M&M, said, “Our SUV growth has been supported by the recent launch of XUV 3XO ‘REVX’ series and the commencement of deliveries for Pack Two variants of the BE 6 and XUV 9E models.”
Volumes of Hyundai decreased by 10% y-o-y to just under 44,000 units in July. The company is betting on the upcoming festive season for improving volumes.
Tarun Garg, whole-time director and chief operating officer, HMIL, said, “While the overall auto industry has seen some softness in recent months, we remain optimistic with the onset of the festive season and are fully geared up with robust supply and exciting product offerings.”
Tata Motors recorded sharpest fall in sales
Tata Motors recorded the worst fall in sales among its peers. The maker of Safari and Nexon models closed July with sales of 39,521 units, a decline of 12% y-o-y. The company, however, achieved its highest-ever monthly electric vehicle sales with more than 7,000 in wholesales.
Toyota, the country’s fifth largest car brand, posted a 1% y-o-y decline in volumes in July to 29,159 units. The drop was due to a 23% fall in volume from Maruti Suzuki, which makes models like the Glanza, Taisor, Rumion and Hyryder for Toyota.
Kia India also bucked the trend by posting a growth of 8% to 22,135 units. The recently launched Carens Clavis along with its electric version have contributed to the overall growth momentum for the company.
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This article was first uploaded on August two, twenty twenty-five, at thirty-eight minutes past six in the morning.
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