NEW DELHI: Gross sales are surging. Indian passenger automobile market registered a reliable double-digit development at 18% within the final month of essentially the most painful 12 months for the automotive business. The rise in demand for safer and private mobility, new launches, and a low base because of BS-IV destocking final 12 months helped passenger automobiles to publish constructive development for the fifth straight month in December.
In keeping with business veterans, it’s nonetheless very early to conclude that the passenger automobile phase has recovered from final December as most carmakers began destocking stock at dealerships, the decrease base of the earlier 12 months doesn’t make it actually comparable.
As per brokerage agency, Motilal Oswal Monetary Providers, the low inventory on the passenger automobile and tractor dealerships gave sufficient headroom for larger dispatches from the manufacturing unit after sturdy festive gross sales with excessive retails.
Overlaying practically half the Indian passenger automobile market, Maruti Suzuki registered a wholesome development of 15% in December 2020. India’s largest carmaker dispatched 1,40,754 models final month towards 1,22,784 models in December 2019. It continued to publish sturdy demand for smaller automobiles and hatchback with a number of first-time consumers flocking at its shops.
Hyundai Motor India Restricted registered 25% development in home gross sales primarily on the excessive demand for standard fashions like Creta, i20 and Venue. Its December gross sales had been at a historic excessive within the final month of the 12 months.
The South Korean carmaker provided 47,400 models to its sellers in December 2020 in comparison with 37,953 models in the identical month final 12 months.
Pushing the needle, Tata Motors passenger automobile enterprise unit is on a bull run posting 84% development at 23,546 models in December 2020. In keeping with an organization spokesperson, PV enterprise posted its highest-ever gross sales within the final 33 quarters.
Home passenger automobile (PV) gross sales stood at 23,545 models final month towards 12,785 models in December 2019, up 84%.
Shailesh Chandra, president, passenger automobiles enterprise unit, Tata Motors, mentioned, “The PV business continues to develop robustly in Q3 FY’21, owing to pent-up demand, sturdy festive season and shift in direction of private mobility in these difficult occasions.”
Transferring ahead, jolted by the availability crunch of semiconductors, home-grown automaker Mahindra & Mahindra might solely dispatch 16,182 models in December 2020, 3% development over final 12 months.
“Our general gross sales have been affected by the persevering with provide chain challenges associated to the always altering international atmosphere, extra particularly the availability scarcity of micro-processors (semiconductors) utilized in digital management models,” Veejay Nakra, chief government officer of Mahindra’s Automotive Division mentioned.
New entrants resembling Kia and MG Motor too registered constructive development supported by the newly-launched product pleasure. The market has been on a roll for the festive season with prospects taking big deliveries and producing far larger gross sales for the 12 months.
