Pent up demand boosts passenger vehicle sales in July
Passenger vehicle sales in July have soared on the back of pent-up demand. Several state governments eased their respective Covid-19 lockdowns and travel restrictions. The low base a year ago also helped the auto companies to post higher sales numbers in July 2021.
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Maruti Suzuki, the largest car manufacturer in terms of sales in India sold 133,732 units last month. The auto company registered 37% YoY growth in July 2021 compared to the same month last year. In July 2020, Maruti Suzuki sold 97,768 units.
The car manufacturer has accepted that this year-on-year growth is not meaningful, as July 2020 had a much lower base due to the pandemic-induced disruptions. The latest growth in sales comes on the back of pent up demand that built up during the last few months while the Covid pandemic's second wave was at its peak.
Not only Maruti Suzuki, but several other car majors too posted similar growth figures. The second-biggest car brand in India, in terms of volume sales, Hyundai too has posted a 26% YoY growth last month with 48,042 units sold. The South Korean auto major sold 38,200 units in the same month a year ago.
Tata Motors too has recorded 101% YoY growth in July 2021 with 30,185 units sold. The homegrown auto major sold 15,012 units in the same month a year ago. Toyota Kirloskar Motoras, MG Motor India, Nissan India, Skoda also posted three-digit growth last month.
Toyota sold 13,105 units of passenger vehicles in July 2021, up 143% from 5,386 units recorded in July 2020. Skoda has posted 234% growth with 3,080 units sold in July 2021, up from 922 units sold in the same month a year ago.
Nissan posted the highest YoY growth at 443% last month. The automaker sold 4,259 units last month, up from 784 units registered in July last year. The high demand for Nissan Magnite compact SUV has helped this Japanese auto company to post its highest monthly sales in three years. According to Nissan, Magnite has sold more than 20,000 units so far.
While the automakers in India reports wholesale numbers every month, MG Motor India announces their retail numbers. The SAIC owned British car brand sold 4,225 units last month, up 101% from 2,105 units registered in the same month a year ago.
Honda Cars India too has registered 13% YoY growth with 6,055 units sold last month. The Japanese car brand recorded 5,383 units in July 2020.