Auto majors report robust sales growth in July

Auto sales in India grew at a robust pace in July with market leader Maruti Suzuki India posting record monthly figures while others like Hyundai, Mahindra & Mahindra, Ford and Renault also registered strong numbers riding on positive sentiments brought by a good monsoon.

With a better sales performance in July, the industry’s April-June growth of 6.66 per cent is expected to improve to around 8.25 per cent during the April-July period.

The last time Maruti hiked vehicle prices was in January this year.

Mahindra & Mahindra, India’s largest sport-utility vehicle maker, reported a 14% increase in July sales.

The company’s domestic sales witnessed an increase of 13.9 percent and stood at 1,25,778 units for the month of July 2016 as against 1,10,405 units during July 2015.

The company said sales of the compact segment comprising Swift, Estilo, Ritz, Dzire and Baleno increased by 4.1 per cent to 50,362 units in July this year, as against 48,381 units in the corresponding month last year. As many as 5,162 units were sold during the month. The only section where the company saw sales dipping was for its mini cars like Alto and WagonR.

Overall in the FY 2016-17 from the period April 2016 to July 2016 the company sold 4,48,118 units in the domestic market registering a YOY growth of 7.7 per cent the company sold 4,16,099 units same period last financial year.

Eicher Motors logged 31 per cent sales growth, selling 53,378 units in July 2015 from 40,760 units sold in the corresponding month past year.

In July 2015, the domestic carmaker sold 121,712 units.