According to Angel Broking, the May sales figures have given mixed signals, while tractors’ off-take remained a bright area. Commercial vehicle sales numbers remained subdued due to transition to the BS IV standards. Automobile companies came out with mixed sales figures for last month.
On a company specific basis, automobile major Maruti Suzuki’s total sales rose 11.3 per cent to 136,962 units from 123,034 units sold during the corresponding month of 2016.
Maruti’s domestic sales edged higher by 15.5 per cent to 130,676 units from 113,162 units. However, exports plunged by 36.3 per cent with only 6,286 units shipped out during May 2017, down from 9,872 units sold abroad in the like period of 2016.
The other passenger vehicle major Hyundai Motor India Ltd (HMIL) registered an increase of 1.6 per cent in its domestic sales of 42,007 units for the month of May 2017.
“Hyundai volumes are 42,007 units maintaining the growth momentum in passenger vehicles… the newly launched new Xcent registering a growth of 30 per cent thus overcoming the challenges posted by the implementation of GST which will be a boon for the auto industry,” Rakesh Srivastava, Director of Sales and Marketing, HMIL said.
Leading SUV manufacturer Mahindra & Mahindra’s (M&M) sales grew by three per cent to 41,895 vehicles sold during May 2016.
The company’s domestic sales surged to 11 per cent to 40,602 vehicles during last month from 36,613 units sold during May 2016.
“Given the favourable monsoon projections and the focused investment in the rural sector, we have a robust outlook for future which is expected to spur demand,” said Rajan Wadhera, President, Automotive Sector, M&M.
“The implementation of GST will be a significant game changer and we hope it benefits the auto industry. At Mahindra we look forward to a growth momentum on the back of our existing product portfolio as well as the upcoming new products.”
In the two-wheeler space Hero MotoCorp reported a rise of 8.7 per cent in its monthly sales for last month.
The two-wheeler major’s sales in May increased to 633,884 units from 583,117 units despatched during the corresponding month of 2016.
Another key player Honda 2Wheelers India’s sales grew by 23 per cent to 537,035 units from 436,328 units sold in May 2016.
“Honda continues to outpace the two-wheeler industry growth growing nearly three times that of the industry in April-May 2017,” said Yadvinder Singh Guleria, Senior Vice President – Sales and Marketing, Honda Motorcycle and Scooter India.
“Overall, the two-wheeler industry has once again bounced back to double digit growth after six months indicating early signs of recovery. However, with upcoming GST implementation, industry sentiment is cautiously optimistic.”
The TVS Motor Company posted a sales growth of 16 per cent during the month of May 2017 to 282,007 units from 243,783 units in May 2016.