Auto sales remain subdued in June (Roundup)

July 2nd, 2012 - 8:02 pm ICT by IANS  

New Delhi/Chennai, July 2 (IANS) Amid a general slowdown of the economy, India’s major auto companies posted meagre sales for June, blamed on hikes in fuel prices and interest costs.

Passenger car market leader Maruti Suzuki had a 20.3 percent increase in sales, including exports, at 96,597 vehicles in June from 80,298 units sold in the corresponding month of last year.

Domestic sales grew 19.3 percent in the month under review at 83,531 units. The strong growth was achieved as the automobile manufacturer’s plant was crippled by strike in June 2011 when it sold just 70,020 cars.

Exports rose 27.1 percent at 13,066 units as against 10,278 units shipped out in the corresponding period of 2011.

The total passenger cars sales in June increased by 23.1 percent at 70,977 units from 57,653 units sold in the corresponding month of last year.

Chennai-based Hyundai Motor’s sales were up with higher exports to Africa and South America that grew 8.1 percent and stood at 23,904 units from 22,119 units shipped out in the corresponding period of last year. Its domestic sales grew only 0.2 percent at 30,450 units from 30,402 units sold in the last corresponding month of 2011.

Total sales including exports grew by 3.5 percent in its overall June sales and stood at 54,354 units from 52,521 units sold in the corresponding period of 2011.

Projecting a bearish outlook, Arvind Saxena, director, marketing and sales, Hyundai Motors India, said: “The general inflationary trend, high fuel prices, interest rates that are still high are keeping sentiment low. Unless any triggers get activated, sentiment is not expected to improve very much.”

Tata Motors Monday reported a decline of three percent in its total sales, including exports, in June which stood at 64,341 units.

The company’s domestic sales in the month under review were down five percent at 58,270 units from 61,266 units sold in the June 2011. However, exports zoomed 19 percent at 6,071 units from 5,094 vehicles shipped out in the corresponding month of last year.

On the two-wheeler front, Hero MotoCorp reported its best-ever quarterly sales at 16,42,292 units from 15,29,577 units in the corresponding quarter of the last financial year (2011-12).

The company’s standalone June sales grew by and stood at 5,34,091 units from 5,12,244 units sold in the corresponding month of 2011.

“With new product launches and foray into new international markets, we are looking forward to a lot of exciting action in the coming month”,” said Anil Dua, senior vice-president, marketing and sales, Hero MotoCorp.

However, two- and three-wheeler major Bajaj Auto had a decline of six percent in its overall sales, including exports, in June which stood at 345,162 units down from 366,657 units sold in the corresponding month of 2011.

According to the company, motorcycle sales during the month fell by one percent at 318,377 units, down from 322,827 units sold in June, 2011. Commercial vehicle segment was the worst hit with sales dwindling by 39 percent at 26,785 units from 43,830 units sold in the June 2011.

Exports also took a hit and fell by 18 percent in June at 116,062 units being shipped out as compared to 142,124 units that were shipped out in June 2011.

Related Stories

Tags: , , , , , , , , , , , , , , , , , , ,

Posted in Business |

Subscribe