Maruti, Hyundai and M&M witness sharp recovery from notable low in car sales in the month of June

These three automakers’ sales dropped by half in June on an annual basis, but still managed to be much better than no sales in April and above 80 percent annual drop in May.

 

On Wednesday, India’s top car manufacturers Maruti Suzuki (MSIL), Hyundai Motor (HMIL), and Mahindra & Mahindra (M&M) informed a negligible recovery in June’s sales figures. The three auto manufacturers’ sales dropped by nearly a half in June on an annual basis, but still managed to perform much better than nil sales in April and more than 80 percent annual slump in May.

 

MSIL, which accounts to sell one in every two cars sold in India, dispatched 51,274 cars in the domestic market in the previous month compared to 1,11,014 units dispatched in June 2019, recording a decline of 53.8 percent.

 

Sales of its entry-level cars — Alto and S-Presso testified a minimum drop of 44.2 percent, reflecting that a huge segment of customers is rooting for personal mobility over using public transport amidst the existing pandemic. Sales of MSIL’s compact vehicles dropped to 57.6 percent to 26,696 units, whereas the sales of utility cars dropped to 45.1 percent to 9,764 units in the past month. Maruti’s export count positioned at 4,289 units during the past month.

 

With this record, the company concluded their first quarter of FY 20-21 with a total domestic PV sales of 64,976 vehicles compared to 363,417 vehicles sold in the same quarter but in the previous year and a drop of 82.1 percent is witnessed. The auto manufacturer company said: “The sales performance during June 2020 and Q1 FY 20-21 should be seen in the context of the ongoing COVID-19 pandemic, lockdown, and restrictions required for safety.” 

 

Leading utility car maker Mahindra & Mahindra’s domestic PV sales fell to 57 percent to 8,075 units in June 2020, in opposition to 18,826 units in June 2019.

 

Veejay Nakra, Chief Executive Officer, Automotive Division, M&M, stated, “The automotive industry has started to see recovery both in the passenger and small commercial vehicle segments. This has been led primarily by rising rural demand and movement of essential goods across the country. Our key brands such as Bolero, Scorpio, and Pik-Ups are all seeing good traction. Managing the supply chain will be our key focus area as we ramp up production to meet this increased demand.”

 

Hyundai Motor too recorded a drop of 49.2 percent in June at 21,320 vehicles sold in the domestic market, in opposition to 42,007 vehicles sold in the same month in the previous year. The company’s exports for June 2020 positioned at 5,500 vehicles.

 

Tarun Garg, Director of Sales, Marketing and Services, HMIL, stated: “Our newly launched products like Creta, Verna, Aura and traditionally strong brands like Elite i20, Venue, Santro and Grand i10 Nios have been receiving encouraging customer response. This has helped us achieve a wholesome volume in the domestic market for the month of June 2020.”

Leave a Reply

Your email address will not be published. Required fields are marked *