Automobile industry back on growth track

The country’s automobile industry, which was going through a lean phase in line with the global trend, has bounced back by posting higher sales in four as well as two-wheeler segments during September.The auto industry has been struggling to overcome the impact of high interest rates, rising fuel costs and slackening in avalability of finance, especially in the two-wheeler segment.Market leader Maruti Suzuki, which registered a decline in August sales, has staged an impressive come back with 2.53 per cent rise in its domestic sales during September.MSI’s domestic sales stood at 64,682 units compared to 63,086 units in the same month a year-ago. Its total sales stood at 71,000 units as against 67,448 units in the same month last year.Maruti’s exports also grew by 44.84 per cent at 6,318 units as against 4,362 units in the same month last year.

India’s second biggest car maker Hyundai Motor India (HMIL) also reported a domestic sales growth of 23.89 per cent at 22,311 units in September as against that of 18,009 units in the same month last year.Its exports for the month rose by over two-fold to 23,911 units, the same stood at 9,508 units during the same month previous year.Tata Motors also reported a 2.7 per cent jump in its total sales during September at 49,647 units, compared to 48,347 units the same month last year.The company said total sales of passenger vehicles stood at 16,586 units in the domestic market in September, a decline of 2.5 per cent over September 2007.

Another homegrown auto major Mahindra & Mahindra reported 31.67 per cent jump in its sales in the month at 24,481 units over 18,593 units in the same month last year.
However, General Motors reported a 10.38 per cent decline in its domestic sales during September at 5,154 units against 5,751 units in the same month in 2007.Another leading player Honda Siel Cars India also reported a 45.29 per cent fall in its sales at 3,104 units in September as against 5,674 units in the same month a year ago.

Two-wheeler sales also beat the tough market conditions with market leader Hero Honda posting nearly 22.47 per cent growth, followed by TVS and Bajaj Auto, which respectively posted 19.25 per cent and 5.96 per cent sales growth in September.Hero Honda’s sales in September stood at 3,85,262 units as against 3,14,567 units in the same month last year. The company said cumulative sales for the April-September period this year stood at 18,66,349 units as against 15,59,486 units in the corresponding period last year, reflecting a 19.68 per cent growth.Country’s second largest two-wheeler maker Bajaj Auto also reported its sales in September at 2,18,494 units, against 2,06,208 units in the same month last year.Another leading manufacturer TVS Motor Company’s total two-wheeler sales was recorded at 1,37,246 units in September this year, against 1,15,091 units in the same month last year.

During the month, motorcycle sales stood at 71,278 units, against 53,991 units last year, registering a growth of 32.02 per cent.Honda Motorcycles and Scooters India (HMSI) reported a 17.48 per cent increase in its total sales at 94,181 units in September against 80,171 units in the same month last year.Motorcycle sales rose by 37.52 per cent to 34,404 units in the month as against 25,017 units in the corresponding month in 2007. The company reported a 8.38 per cent increase in scooter sales at 59,777 units in September compared with 55,154 units in the year-ago period.

Source:dnaindia.com

Related posts:

1. Indian automobile industry bounces back, sales up 9.83 pc The automobile industry has got its momentum back with April’s overall vehicle sales rising by 9.83 per cent, thanks to...
2. Car sales up 2.84 pc in September, bike sales jump 15.22 pc Domestic passenger car sales jumped by 2.84 per cent in September to 1,08,823 units from 1,05,822 units in the same...
3. Automobile sales in November see record drop Car, two-wheeler and multi-utility vehicle manufacturers felt the impact of a slowing economy with domestic sales registering one of its...
4. GM nearly double industry growth in Eastern Europe General Motors (GM) Eastern European sales reached a record of 318,245 vehicles from January to September 2008, with a market...
5. Maruti sales dip 7% in October As the global economic crisis muffles demand, the country?s automobile sector continued its downward journey in October.Maruti Suzuki, which sells...