Maruti, Hyundai & Tata sales fall, Mahindra & Toyota gain in June
The Indian automobile market saw a mixed bag of results in June, with some manufacturers reporting significant declines in sales, while others bucked the trend and registered growth. According to data released by the Society of Indian Automobile Manufacturers (SIAM), Maruti Suzuki, Hyundai Motor India, and Tata Motors all posted declines in domestic passenger vehicle sales in June, while Mahindra & Mahindra and Toyota Kirloskar Motor recorded gains.
Maruti Suzuki, the country’s largest carmaker, saw its domestic passenger vehicle sales decline by 13% year-on-year (YoY) in June. This marks the second consecutive month of decline for the company, which has been struggling with weak demand and a decline in consumer confidence. The only bright spot for Maruti Suzuki was its mid-size sedan segment, which saw a 5% YoY increase in sales.
Hyundai Motor India, another major player in the Indian market, also reported a decline in domestic dispatches in June. The company’s sales fell by 12% YoY, with passenger vehicle sales declining by 11% and commercial vehicle sales declining by 15%. Hyundai’s sales have been impacted by the decline in consumer demand and the absence of new models in the market.
Tata Motors, which has been struggling to regain its footing in the Indian market, posted a 15% YoY decline in passenger vehicle sales in June. The company’s sales have been impacted by the decline in demand for its older models, as well as the lack of new products in the market.
On the other hand, Mahindra & Mahindra, which has been focusing on its utility vehicle segment, saw a surge in sales in June. The company’s utility vehicle sales rose by 18% YoY, driven by strong demand for its SUVs and MPVs. Mahindra’s sales have been boosted by the success of its new models, such as the XUV300 and the Thar.
Toyota Kirloskar Motor, which has been riding high on the success of its new models, such as the Glanza and the Urban Cruiser, reported a 5% YoY increase in sales in June. The company’s sales have been driven by strong demand for its hatchbacks and SUVs, as well as the introduction of new models in the market.
The decline in sales for Maruti, Hyundai, and Tata has been attributed to a range of factors, including the decline in consumer confidence, the absence of new models in the market, and the high inventory levels of dealerships. The slowdown in the economy and the decline in rural demand have also contributed to the decline in sales.
On the other hand, the growth in sales for Mahindra and Toyota has been driven by their focus on utility vehicles and SUVs, which have been in high demand in recent times. The success of their new models has also contributed to their growth in sales.
In conclusion, the Indian automobile market saw a mixed bag of results in June, with some manufacturers reporting significant declines in sales, while others bucked the trend and registered growth. While the decline in sales for Maruti, Hyundai, and Tata has been attributed to a range of factors, the growth in sales for Mahindra and Toyota has been driven by their focus on utility vehicles and SUVs.
