Continuing the growth momentum, auto majors Maruti Suzuki India (MSI), Mahindra & Mahindra (M&M) and Tata Motors today posted robust double-digit sales growth for February.
Double-Digit Sales Growth – Four Wheeler Segment
Besides, two-wheeler players like Bajaj Auto, Royal Enfield, TVS Motor and Hero MotoCorp also reported strong double-digit sales.
While MSI reported 14.2 percent increase in domestic sales at 1,37,900 units in February, M&M’s domestic sales grew 20 percent at 48,473 units as against 40,526 units in the year-ago period.
Tata Motors reported 38 percent 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 percent, 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 percent.
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 percent to 9,041 units as against 8,338 units in the year-ago month.
MSI, the country’s largest car maker, reported 15 percent 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 percent 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 percent increase in total sales at 18,181 units in February 2018.
Mahindra’s commercial vehicle sales during the month jumped 28 percent 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 percent 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.
Double-Digit Sales Growth – Two Wheeler Segment
In the two-wheeler segment, Bajaj Auto reported 31 percent 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 percent 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 percent 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 percent to 2,30,353 units as against 1,72,611 units in the year-ago month.
Two-wheeler maker Hero MotoCorp today reported a 20 percent 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.
(This story has not been edited by Pulplup staff and is auto-generated from a syndicated feed.)