Maruti, Hyundai & Tata sales fall, Mahindra & Toyota gain in June
The Indian auto industry has witnessed a mixed bag of sales performance in June, with Maruti Suzuki, Hyundai Motor India, and Tata Motors reporting a decline in sales, while Mahindra & Mahindra and Toyota Kirloskar Motor registered an increase.
According to the latest sales data, Maruti Suzuki, India’s largest automaker, saw a year-on-year (YoY) decline of 13% in domestic passenger vehicle sales. The company’s sales declined across all segments except mid-size sedans, which saw a 15% increase. Maruti Suzuki’s total sales in June stood at 1,25,311 units, a drop from 1,44,523 units in the same period last year.
Hyundai Motor India also reported a decline in sales, with a 12% YoY drop in domestic dispatches. The company’s total sales in June stood at 43,000 units, a decline from 49,000 units in the same period last year.
Tata Motors, another major automaker, posted a 15% YoY drop in passenger vehicle sales. The company’s total sales in June stood at 21,000 units, a decline from 24,700 units in the same period last year.
On the other hand, Mahindra & Mahindra, India’s largest SUV manufacturer, saw a significant increase in sales. The company’s utility vehicle sales rose by 18% YoY, driven by strong demand for its SUVs and vans. Mahindra & Mahindra’s total sales in June stood at 43,000 units, a significant increase from 36,300 units in the same period last year.
Toyota Kirloskar Motor (TKM), India’s largest passenger car manufacturer, reported a 5% YoY increase in sales. The company’s total sales in June stood at 12,700 units, an increase from 12,100 units in the same period last year.
The decline in sales by Maruti Suzuki, Hyundai Motor India, and Tata Motors can be attributed to various factors, including increased competition, high inventory levels, and a decline in demand for passenger vehicles. The government’s decision to increase goods and services tax (GST) rates on electric and hybrid vehicles may have also impacted demand.
On the other hand, Mahindra & Mahindra’s strong sales performance can be attributed to its focus on utility vehicles, which have been in high demand in India. The company’s SUVs, such as the XUV500 and the Thar, have been popular among Indian consumers, who prefer SUVs over sedans.
Toyota Kirloskar Motor’s increase in sales can be attributed to its strong brand reputation and the popularity of its SUVs, such as the Fortuner and the Innova Crysta. The company’s focus on quality and reliability has also helped it to maintain a strong market presence.
In conclusion, the Indian auto industry has witnessed a mixed bag of sales performance in June, with Maruti Suzuki, Hyundai Motor India, and Tata Motors reporting a decline in sales, while Mahindra & Mahindra and Toyota Kirloskar Motor registered an increase. The industry’s performance is likely to be influenced by various factors, including government policies, competition, and consumer preferences.
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