Maruti Suzuki, Hyundai Sales Drop in July: Weak Demand Hits Automakers
Aug 01, 2024 19:42
Maruti Suzuki and Hyundai reported a decline in wholesales in July, citing weak demand. Other automakers like Tata Motors also saw sales dip, while Mahindra & Mahindra and Kia India recorded growth.
New Delhi, Aug 1 (PTI) Leading carmakers Maruti Suzuki and Hyundai on Thursday reported a dip in wholesales in July as companies reduced vehicle dispatches to dealers amid moderation in demand.
Maruti Suzuki India said its total domestic passenger vehicle sales stood at 1,37,463 units in July against 1,52,126 units in the year-ago month, down 9.64 per cent.
The company's sales of mini segment cars, comprising Alto and S-Presso, were higher at 9,960 units last month compared to 9,590 units in the year-ago period.
However, sales of compact cars consisting of Baleno, Celerio, Dzire, Ignis, Swift and WagonR were lower at 58,682 units compared to 67,102 units in July 2023.
Similarly, utility vehicles Brezza, Ertiga, Fronx, Grand Vitara, Invicto, Jimny, and XL6 also clocked lower sales at 56,302 last month against 62,049 units in the same period last year, the company said.
Rival Hyundai Motor India said its domestic dispatch of vehicles to dealers saw a dip of 3 per cent to 49,013 units last month from 50,701 units in the year-ago period.
Similarly, Tata Motors said its total domestic sales dipped 11 per cent and stood at 70,161 units last month as against 78,844 units in the year-ago period.
Mahindra & Mahindra however reported a 15 per cent increase in passenger vehicle sales in the domestic market to 41,623 units last month against 36,205 units in the year-ago period.
Kia India said its domestic sales rose 2.5 per cent year on year to 20,507 units in July as compared with 20,002 units sold in July 2023.
In the two-wheeler space, Bajaj Auto said its total domestic sales (including commercial vehicles) rose 18 per cent to 2,10,997 units in the last month compared to 1,79,263 units sold in the same month last year.
TVS Motor Company said its domestic two-wheeler sales grew 8 per cent to 2,54,250 units in July over 2,35,230 units in the year-ago period.
Honda Motorcycle & Scooter India (HMSI) said its domestic sales for the last month registered a 41 per cent YoY growth at 4,39,118 units.
DISCLAIMER - This article is from a syndicated feed. The original source is responsible for accuracy, views & content ownership. Views expressed may not reflect those of rediff.com India Limited.