High domestic, export demand pushes May automobile sales higher (Roundup)

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New Delhi/Chennai, June 1 (IANS) High domestic and export demand along with a rise in commercial vehicle and two-wheeler despatch led the Indian automobile firms to report healthy sales growth for May 2018.

Automobile major Maruti Suzuki India’s overall sales, including exports, rose by 26 per cent to 172,512 units from 136,962 units sold in May 2017.

In terms of domestic sales, the automobile major reported a rise of 24 per cent in its off-take to 161,497 units, while exports zoomed by 48.1 per cent to 9,312 units that were shipped out during last month.

Similarly, automobile manufacturer Hyundai Motor India reported healthy sales growth. Its overall off-take increased by 11.44 per cent to 56,016 units from 50,265 units in May 2017.

The company said it sold 45,008 vehicles in the domestic market last month, up by 7.14 per cent, from 42,007 units sold in May 2017.

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Hyundai exported 11,008 units in May 2018, 33.3 per cent higher than the 8,258 units which were shipped out during the corresponding month last year.

Automobile giant Tata Motors’ domestic sales grew by 58 per cent to 54,295 units as against 34,461 units sold in the like period of last year due to the continued strong sales performance of its commercial and passenger vehicles businesses in the domestic market.

“In FY19, the company has embarked on ‘Turnaround 2.0’, with 3 clear objectives viz. ‘Win Decisively in CV’, ‘Win Sustainably in PV’ and embed the turnaround culture in the organisation,” Tata Motors said in a statement.

However, the company’s sales from exports declined to 3,699 units as against 3,900 units in May 2017.

Another automobile major Mahindra & Mahindra’s overall sales increased by 12 per cent to 46,849 units, from 42,003 units sold during May 2017.

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Commenting on the monthly performance, Rajan Wadhera, President, Automotive Sector, M&M said: “May has relatively been a subdued month compared to April. At Mahindra we have by and large maintained our growth momentum during the month of May 2018, especially in commercial vehicles.”

“On the back of a buoyant economy, our MHCV division continues to outperform. Exports have also been strong with a high growth. With the forecast of an upcoming normal monsoon we are confident of good growth in the coming months.”

In the commercial vehicles segment, Ashok Leyland said that its sales rose to 13,659 units from 9,075 units sold in May 2017.

Additionally, two-and-three-wheeler maker TVS Motor Company closed last month with 10 per cent growth in sales volume to 309,865 units from 282,007 units sold in May 2017.

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Bajaj Auto registered a growth of 30 per cent with sales increasing to 407,044 units from 313,756 units sold in May 2017.

Two-wheeler major Hero MotoCorp said that it despatched 706,365 units of motorcycles and scooters in May 2018 — a growth of 11 per cent — over the corresponding month in the previous fiscal when the company had sold 633,884 units.

Honda2Wheelers India sold a total of 551,601 units in May 2018 with three per cent growth compared to 537,035 units in May 2017.

“Exports grew by a massive 22 per cent to close at 32,529 units in May 2018 from 26,654 units in the same month last year,” the company said in a statement.

Suzuki Motorcycle India recorded an overall sales 58,682 unit sales as compared to 44,123 units in the month of May last year for a year-on-year growth of 33 per cent.

–IANS

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