Indian automakers report sales growth in August riding on festive sentiments
Indian auto companies posted a growth in sales figures in domestic passenger vehicles segment last month as they witnesses strong demand from customers amid the onset of festive fervour in the country. Companies like Hyundai, Tata Motors, Mahindra & Mahindra, Toyota Kirloskar and Honda Cars India reported growth in domestic sales in August.
However, country's largest carmaker Maruti Suzuki reported a decline in sales figures due to a global shortage of semiconductor chips. Its August domestic sales stood at 1,10,080 units as compared to 1,16,704 units in the same month last year, down 6 per cent. The company also informed that it is expecting a slump in vehicle production in September by 40% due to shortage of electronic components.
Hyundai Motor India posted domestic sales growth of 2 per cent at 46,866 units as against 45,809 units in August 2020 while Mahindra & Mahindra reported a 17 per cent increase in domestic passenger vehicle sales at 15,973 units last month as compared to the same month last year when it sold 13,651 units.
Tata Motors posted passenger vehicle sales growth in the domestic market at 51 per cent with 28,018 units sold in August as compared to 18,583 units in the same month last year while MG Motor India announced that it sold 4,315 units in August, marking a 51% growth in sales as compared to the same month last year.
Kia India said its sales increased by 55 per cent to 16,750 units last month as against 10,845 units in August 2020 while Honda Cars India reported 49 per cent growth in domestic sales in August at 11,177 units as against 7,509 units in the corresponding month last year.
Skoda Auto India posted nearly a four-fold jump in sales at 3,829 units in August as compared to 1,003 units sold in the same month last year. Similarly, Nissan Motor India also reported a nearly four-fold jump in wholesale at 3,209 units across its two brands - Nissan and Datsun last month as against a wholesale of 810 units in the same month last August.
