|ALTIUS FINSERV AUTOMOBILES|
ALTIUS FINSERV AUTOMOBILES
A revival in the monsoon coupled with a slew of fresh launches and a decline in fuel prices has augured well for the Indian passenger vehicle industry as domestic sales rose in July. According to data by Altius Finserv Automobiles from seven of the country’s largest automakers, passenger vehicle sales rose over 17% in July 2015 to 206,455 units from 176,143 vehicles a year ago. Rainfall activity had weakened in early July, but recovered in the latter half of the month, boosting farm produce and in turn demand for automobiles. Fresh launches in the month also spurred demand as companies tried to woo customers with their latest offerings.
Maruti Suzuki India, the country’s largest carmaker by volumes, remained on the top spot in July with over 22% on-year growth in domestic sales. The automaker registered positive growth in all segments in the month and sold a whopping 110,405 vehicles. Arch rival Hyundai Motor India also had a good month and registered a near-25% rise in sales to 36,500 vehicles. The launch of the much-talked-about compact SUV Creta, added to the company’s sales as it retained the number two spot. Commenting on the July sales, Karan Bagga, senior vice-president (Sales and Marketing), HMIL, said,“ The tremendous response for the Creta, i20 Active and Elite i20 shows customers’ increasing preference for products offering novelty value in style, first in segment features and strong aftersale assurances.” The Creta got more than 10,000 bookings even before its official launch in July, and at present the waiting period on the car for some variants is as long as 10 months, according to Autocar India. Given the overwhelming response for the Creta, it is likely to drive the company’s sales in the coming months. Honda Cars India also benefitted from the launch of its new Jazz, and reported an 18% rise in car sales in the month. Sales of the new Jazz surpassed that of both the City and the Amaze as the company managed to sell a total of 18,606 vehicles in the month. The product-wise split comprises 5,180 Citys, 4,589 Amaze sedans, 6,676 units of the new Jazz, 1,122 Brios, 909 Mobilios and 130 CR-Vs.
To manage the surge of demand for the new Jazz, Honda Cars India has begun juggling production at both its Greater Noida and Tapukara facilities. Meanwhile, homegrown SUV maker Mahindra & Mahindra continued to struggle as the reducing gap between petrol and diesel prices, coupled with a slew of fresh launches, by competitors dented the company’s sales. M&M’s sales fell 13% to 14,456 units in July. Speaking on the sales performance,Pawan Bansal, president and chief executive (automotive), M&M, said, “While the auto industry is currently seeing muted growth, we do believe that the launch of some exciting new products will help it turn the tide. In addition, with the advent of a good monsoon till date and reduction in fuel prices, we expect sentiments to improve, leading to overall growth in auto sales.” The company recently launched the automatic version of its top-selling SUV, Scorpio and has also announced the launch of a new compact SUV named TUV 300. The TUV 300 is built on an entirely new platform and will hit dealerships by September. Tata Motors, on the other hand, saw yet another month with positive growth in sales. Passenger vehicle sales for the company in July rose 13% to 10,389 units, as the GenX Nano continued to draw buyers. The Zest also continued to post decent sales with most buyers preferring the automated manual transmission variant. Toyota Kirloskar Motor (TKM) sold 12,070 units in July 2015 compared to 11,921 units in July 2014, registering 1% growth in the domestic market. Etios sales grew by 60% with 2,827 units sold last month when compared to 1,769 units in July 2014. The Etios series sold 31,301 units in the January-July 2015, up 16% year on year. Volkswagen India’s sales were up 18% in July 2015. The German carmaker sold 4,029 units compared to 3,409 units sold in July 2014. Michael Mayer, director, Volkswagen Passenger Cars, Volkswagen Group Sales India, said, “With the advent of the third quarter, and the encouraging customer response for the recently launched New Vento, we are happy to announce that our sales have gone up by 18% in July 2015, on a year-on-year basis. Also, with a slew of exciting made-for-India products lined for the next two years and backed by an impressive sales performance for the sixth consecutive month, we are confident of further strengthening our position in the Indian market over the coming months.”
Report by Altius Finserv Automobiles
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