Mahindra & Mahindra, Maruti Suzuki & Tata Motors Posts Double Digit Growth

Continuing the growth momentum, auto majors Maruti Suzuki India (MSI), Mahindra & Mahindra (M&M) and Tata Motors posted robust double-digit growth in their domestic sales for February.

Besides, two-wheeler players Bajaj Auto, Royal Enfield, TVS Motor and Hero MotoCorp also reported strong double digit sales.

While MSI reported 14.2 per cent increase in domestic sales at 1,37,900 units in February, M&M's domestic sales grew 20 per cent at 48,473 units as against 40,526 units in the year-ago period.

Tata Motors reported 38 per cent jump in domestic sales at 58,993 units, led by strong sales in commercial and passenger vehicle (PV) segments.

“We recorded a strong growth of 45 per cent, a robust sales performance on the back of our new generation products —Tiago, Tigor, Nexon and Hexa,” Tata Motors' President (Passenger Vehicles Business Unit) Mayank Pareek said.

The company's passenger vehicle (PV) sales stood at 17,771 units as against 12,272 units in February 2017, up 45 per cent.

On the other hand, Ford India reported a marginal decline in total sales at 23,965 units in February. Its domestic sales however, grew 8.43 per cent to 9,041 units as against 8,338 units in the year-ago month.

MSI, the country's largest car maker, reported 15 per cent increase in total sales at 1,49,824 units as against 1,30,280 units in the year-ago month led by sales of the compact segment comprising Swift, Estilo, Dzire and Baleno.

Sales of its utility vehicles, including Gypsy, Grand Vitara, Ertiga, S-Cross and compact SUV Vitara Brezza increased by 13.8 per cent to 20,324 units in February, from 17,863 units in the same month of 2017.

In the commercial vehicles space, Hinduja Group's flagship Ashok Leyland recorded 29 per cent increase in total sales at 18,181 units in February 2018.

Mahindra's commercial vehicle sales during the month jumped 28 per cent to 20,946 units compared to 16,383 units in the same month of 2017.

M&M President, Automotive Sector, Rajan Wadhera said, “This performance comes on the back of a sustained momentum and demand, both in the personal and commercial vehicle segments, which we believe will also continue in March.”

Tata Motors' domestic sales of commercial vehicles in the month grew 36 per cent to 41,222 units compared to 30,407 units in the year-ago period, fuelled by robust infrastructural developments, fresh tenders in car carriers, coal movement and the petroleum sector.

In two-wheeler segment, Bajaj Auto reported 31 per cent jump in total sales at 3,57,883 units in February against 2,73,513 units in the same month last year.

Overall domestic sales increased 35 per cent to 2,14,023 units against 1,59,109 units in February last year, Bajaj Auto said in a statement.

Royal Enfield, the two-wheeler division of Eicher Motors, reported 25 per cent growth in total sales at 73,077 units in February. The company had sold 58,439 units in February last year.

TVS Motor Company's domestic two-wheeler sales increased 33.5 per cent to 2,30,353 units as against 1,72,611 units in the year-ago month.

Two-wheeler maker Hero MotoCorp on Thursday reported a 20 per cent increase in sales at 6,29,597 units in February 2018. The company had sold 5,24,766 units in the corresponding month last year, Hero MotoCorp said in a statement.