Business

Passenger car sales up 6.9% in February

With improved consumer sentiment, sales of passenger cars grew by 6.85 per cent in February over a the same month a year earlier, according to data published by the Society of Indian Automobile Manufacturers (Siam).

However, two-wheeler sales dropped marginally during the month. Domestic passenger car sales were 171,727 units in February as compared to 160,717 units in the same month last year.

“This is a reflection of the improving consumer sentiment. With the Budget addressing issues that will lead to overall economic growth, we expect car sales this financial year to be in positive territory, with single-digit growth,” said Siam deputy director-general Sugato Sen. March sales should be better than February as it usually sees good sales, he added.

In February, the domestic sales of the country’s largest car maker, Maruti Suzuki India, rose 7.25 per cent to 90,728 units as against 84,595 units in February 2014.

Hyundai Motor India’s sales increased 9.7 per cent to 37,163 units as compared to 33,875 units earlier. Honda Cars India’s sales grew about four per cent, to 15,065 units as against 14,478 units last year.

Those of Tata Motors grew 30.8 per cent to 11,805 units from 9,026 units in the year-ago month. Sales of Mahindra & Mahindra declined by 5.1 per cent to 17,805 units as against 18,768 units in February 2014.

Total two-wheeler sales in February were down by about one per cent to 12,08,084 units from 12,20,141 units in the same period a year before. Motorcycle sales last month were down 8.2 per cent to 774,122 units; those of scooters rose 18.8 per cent to 370,527 units.

Hero MotoCorp’s motorcycle sales declined 7.7 per cent to 407,809 units as against 441,716 units in the same month last year. Sales of Honda Motorcycle and Scooter India dropped 2.3 per cent to 139,233 units. Bajaj Auto’s sales declined by 25.8 per cent to 115,840 units as against 156,184 units in the same month last year.

HMSI’s scooter sales grew 22 per cent to 208,573 units last month as against 170,974 units in February 2014. Hero MotoCorp’s scooter sales were up 26.9 per cent to 67,442 in February and TVS Motor’s rose 34.2 per cent to 54,655.

Total sales of commercial vehicles increased by 10.1 per cent to 52,843 units from 47,982 units in the year-ago period. Total sale of vehicles across categories rose 0.15 per cent to 15,26,125 units in February, as compared with 15,23,823 units in the same month last year.

Export of passenger cars dropped 5.5 per cent to 39,814 units. Export of utility vehicles rose 10.8 per cent and export of vans jumped 293 per cent to 421 units from 107 units in the same month a year before.

Overall, commercial vehicle export declined 6.3 per cent, three-wheeler export dropped 31.8 per cent and two-wheeler export was down 3.2 per cent in February 2015.