Despite Festive Season, Passenger Vehicle Sales Continue to Decline in September
Maruti Suzuki, Hyundai, Mahindra & Mahindra, Tata Motors, Toyota and Honda, all reported a sharp, double-digit decline in their sales figures for September.
Image for Representation (Reuters)
Major automobile makers, including Maruti Suzuki, Hyundai, Mahindra & Mahindra, Tata Motors, Toyota and Honda, on October 1, reported double-digit declines in domestic passenger vehicle sales in September as the onset of the festive season failed to lift the ongoing slump in the auto industry. The country's largest carmaker Maruti Suzuki India said its domestic sales declined by 26.7 per cent at 1,12,500 units last month as against 1,53,550 units in September 2018. Sales of mini cars comprising Alto and WagonR stood at 20,085 units as compared to 34,971 units in the same month last year, down 42.6 per cent. Sales of compact segment, including models such as Swift, Celerio, Ignis, Baleno and Dzire, fell 22.7 per cent at 57,179 units as against 74,011 cars in September last year. The firm's mid-sized sedan Ciaz sold 1,715 units as compared to 6,246 units earlier. Similarly, sales of utility vehicles, including Vitara Brezza, S-Cross and Ertiga, declined marginally at 21,526 units as compared to 21,639 in the year-ago month, it added.
Hyundai Motor India said its domestic PV sales were down 14.8 per cent at 40,705 units as against 47,781 units in September last year. Mahindra & Mahindra (M&M) reported a 33 per cent decline in passenger vehicle sales at 14,333 units last month as compared to 21,411 units in the same month last year. Reflecting on the sales performance, M&M Chief of Sales and Marketing, Automotive Division, Veejay Ram Nakra said, "We are positive that this festive season, with the onset of Navratra, will augur well for us and the automotive industry." This, in addition to factors such as the good monsoon and the recently announced positive government initiatives, should help revive the industry in the short term, he added.
Toyota Kirloskar Motor's (TKM) domestic sales were at 10,203 units last month as compared to 12,512 units in September 2018, a decline of 18 per cent. Commenting on the sales performance, TKM Deputy Managing Director N Raja said, "The consumer sentiment continued to be subdued in September which has reflected in the sales slowdown in the industry." However, the company expects consumer demand will see the much-needed revival resulting in better retails due to Navratri and Diwali, Raja added.
Honda Cars India Ltd (HCIL) reported a 37.24 per cent decline in domestic sales at 9,301 units in September as against 14,820 units in the same month last year. "While the market remained tough in September, the auto sales saw an up-tick from this August which is a positive sign," HCIL Senior Vice President and Director, Sales and Marketing Rajesh Goel said in a statement.
Tata Motors PV sales in the domestic market during the month stood at 8,097 units as against 18,429 units in the same month last year, a drop of 56 per cent. Commenting on the sales performance, Tata Motors President, Passenger Vehicles Business Unit, Mayank Pareek said the industry continued to decline in September. "Towards the end of the month, there was an encouraging response in terms of customer footfalls," he added.
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