Riding on a low base and an uptick in consumer sentiments, automobile companies, including makers of passenger cars, two-wheelers and commercial vehicles, reported a growth in sales in the domestic market in September on a year-on-year basis.
In the passenger vehicles segment, Maruti Suzuki reported year-on-year (YoY) factorygate sales growth of 34 per cent to 1,47,912 units in during the month compared with 1,10,454 units in September 2019.
Hyundai Motor India (HMIL) also reported a 24 per cent YoY growth to 50,313 units (40,705 units). The company recorded the highest ever sales of SUV Creta (12,325 units) in September.
“In the changing business environment, the greenshoots of recovery are clearly visible with sales improving on a month-on-month as well as year-on-year basis. We are confident that the coming festival season will drive the market on a steady recovery path with positive customer sentiments,” Tarun Garg, Director (Sales, Marketing & Service), Hyundai Motor India said.
Tata Motors reported better growth during the month. Tata Motors recorded one of its highest sales with 163 per cent growth YoY. The company sold 21,199 units in September (8,097 units).
“The passenger vehicles industry witnessed a recovery, supported by festival sales in some regions and the benefit of pent-up demand. Despite challenges, the supply-side has been improving,” said Shailesh Chandra, President, Passenger Vehicles Business Unit, Tata Motors.
M&M sold 14,857 units of utility vehicles in September (14,333).
While sales of two-wheelers and tractors rose, the CV segment is yet to pick up.