Home News New launches drive auto sales in July

New launches drive auto sales in July

New launches drive auto sales in July

Price revision post the GST implementation coupled with new launches have boosted auto sales in July and the auto firms are expecting better sales ahead owing to good monsoon and the upcoming festival season.

In the passenger cars segment, market leader Maruti Suzuki India reported a growth of 22 per cent in its July domestic sales to 1,53,298 units compared with 1,25,764 units in July 2016.

The second largest passenger car manufacturer Hyundai Motor India recorded sales of 43,007 units during the month, up four per cent, against 41,201 units in the corresponding month last year.

Home-grown company Tata Motors also reported growth of 10 per cent year-on-year to 14,933 units in July compared with 13,547 units in July 2016.

“With an improved customer buying sentiment post GST, we are delighted to record a growth of 10 per cent in the passenger vehicle market, in July. The Tata Tiago continues to witness strong demand, the Tigor and Hexa have also witnessed strong traction in the market,” said Mayank Pareek, President, Passenger Vehicles Business Unit, Tata Motors.

Pareek said the company continues to maintain cautious optimism and will work towards turning around the business, in line with its strategy.

Second home-grown firm Mahindra & Mahindra recorded a growth of 21 per cent year-on-year to 20,962 units last month against 17,356 units in same month last year. Subsidiaries of Japanese majors such as Honda and Toyota also reported high growth rates in their sales for the month as compared with sales in July last year.

While, Honda Cars India grew by 22 per cent year-on-year (17,085 units against 14,033 units), Toyota Kirloskar Motor reported growth of 43 per cent year-on-year (17,750 units against 12,404 units).

Ford India reported growth of 19 per cent year-on-year to 8,418 units in July compared with 7,076 units in the same month last year.

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