Passenger vehicle market leader records 1.3% YoY growth but the trend points to better times ahead.
01 Aug 2020 | 9921 Views | By Ajit Dalvi
Finally, there's some good news for India Auto Inc and the passenger vehicle industry. Market leader Maruti Suzuki India has reported domestic market sales of 97,768 units in July 2020, up 1.3% year on year (July 2019: 96,478). While this is marginal growth but the fact is it marks the return ...
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Finally, there's some good news for India Auto Inc and the passenger vehicle industry. Market leader Maruti Suzuki India has reported domestic market sales of 97,768 units in July 2020, up 1.3% year on year (July 2019: 96,478). While this is marginal growth but the fact is it marks the return of the carmaker, which is the bellwether of the PV industry, into growth lane. Expect, better numbers to come its way in the coming months. The company had posted a Rs 249 crore loss in the first quarter of FY2021 (April-June 2020) as a result of the pandemic-induced fall in demand.
Look at the detailed sales table below and it is rather clear that the sales momentum is back. The entry level Alto and S-Presso hatchbacks have sold 17,258 units, up 49.1% (July 2019: 11,577), indicating consumers have begun their buying act again, after what was a three to four-month hiatus.
The six-pack compact cars – Wagon R, Swift, Celerio, Ignis, Baleno and Dzire – together sold 51,529 units, down 10.4% YoY (July 2019: 57,512).
Importantly, for Maruti Suzuki, the buzz is back where it matters: the UV segment. The five-car lot of the Gypsy, Ertiga, S-Cross, Vitara Brezza and XL6 has sold a total of 19,177 units, up 26.3% (July 2019: 15,178). Given that this segment is going too see a flurrry off new product activity very soon, the company will be looking to strengthen its UV sales act.
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Maruti Suzuki India sells 51,274 units in June, improves on May numbers