Indian Automobile market seems to be going through ups and downs post GST. India’s leading carmaker Maruti Suzuki has managed to remain as the topper with Hyundai and Mahindra to follow. Few companies like Toyota and Ford had considerable decline in sales owing to the drop in export figures while the hike in prices of luxury cars post GST and delayed production contributed to the drop in sales of passenger cars altogether. Let us take a look at the sales figures across different segments:
Passenger and Commercial Vehicles :
Indian carmaker Maruti Suzuki played lead with a growth in domestic sales by 26.7% in August 2017 compared to August 2016. This time, it was not the hatchbacks or the compact SUVs that uplifted the company’s sales figures but the compact car segment. Maruti Dzire 2017 and new Baleno were the major contributors to the upsurge in this segment with a 62.4% growth. At the same time, the company’s total export sales dropped by 4.7%.
Hyundai held second position recording 9% growth while Mahindra & Mahindra has climbed up the sales ladder in August by 4% (YoY). Hyundai owes last month sales to newly launched Verna which crossed 7000 bookings in first few days of launch and are very positive on the upcoming festive season. Mahindra witnessed 6%growth in passenger car segment while their popular SUVs reported 7% growth in sales. Their commercial vehicles alone reported a growth of 45% while the exports fell down drastically by 29% compared to last year August.
Honda cars recorded domestic sales growth by 25% while their export figures fell down by 13% in August 2017 (YoY). On account of the festive season ahead, the company has already announced special benefits for the customers through The Great Honda Fest. Toyota and Ford on the other hand witnessed 6.8% and 40% decline in their sales figures respectively. Toyota blamed this fall in figures on their production inability to meet up with the customer demand after GST implementation. At the same time, Ford reported severe decline in export sales while domestic sales managed with only 9% drop. It seems like the increase in luxury cess has badly affected these two carmakers.
India’s very own Tata Motors reported a total growth of 26% in domestic sales on both passenger and commercial vehicles segment. Tata Hexa being the main contributor to this growth, passenger vehicles segment alone grew by 10% in August 2017 while exports declined by a whopping 53% compared to last year same month.
Commercial vehicle sales seem to have steadied up with favourable monsoons and attractive finance options. Tata Motors reported growth of 34% on their commercial vehicles segment while Ashok Leyland claimed a growth of 25%, Bajaj Auto by 13%, Mahindra &Mahindra by 17% and TVS with three wheelers by 26.9% holding respective positions in the upward graph of August 2017 sales.
With the festive season approaching early this year, two wheeler markets on the other hand have shown remarkable growth in sales figures. Hero Motocorp made its highest ever record sales last month with a growth of 10% (YoY). TVS recorded 16% growth with scooter sales contributing a major share of 49.3%. Sadly, their motorcycles failed to make any progress this August but total exports from the company recorded 33.7% growth. Suzuki Motorcycles recorded their highest ever sales with a growth of 54% in August (YoY) while Yamaha Motors reported sales of 77,887 units in August 2017 compared to 74,868 units last year same month.