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 recording a decline in their sales figures, while Mahindra & Mahindra and Toyota Kirloskar Motor reported an increase.
According to the latest data released by the companies, Maruti Suzuki, India’s largest passenger vehicle manufacturer, saw a year-on-year (YoY) decline across all segments except mid-size sedans. The company’s domestic passenger vehicle sales declined by 13% YoY to 1,16,737 units in June. The decline was mainly due to a slowdown in demand, weak consumer sentiment, and a lack of new launches.
Hyundai Motor India, another major player in the Indian auto industry, also recorded a 12% YoY decline in its domestic dispatches to 43,000 units in June. The company’s sales have been impacted by a slowdown in demand, high inventory levels, and a decline in its market share.
Tata Motors, which has been struggling to regain its lost momentum, posted a 15% YoY drop in passenger vehicle sales to 24,300 units in June. The company’s sales have been impacted by a decline in demand for its premium products and a lack of new launches.
However, not all companies witnessed a decline in their sales figures. Mahindra & Mahindra, India’s largest utility vehicle manufacturer, saw an 18% YoY increase in utility vehicle sales to 22,500 units in June. The company’s sales have been driven by the success of its SUVs, including the XUV700 and the Thar.
Toyota Kirloskar Motor, another key player in the Indian auto industry, reported a 5% YoY increase in its sales to 13,300 units in June. The company’s sales have been driven by the success of its SUVs, including the Fortuner and the Innova Crysta.
The decline in sales of Maruti Suzuki, Hyundai Motor India, and Tata Motors can be attributed to a slowdown in demand, weak consumer sentiment, and a lack of new launches. The Indian auto industry has been facing a slowdown in demand for several months now, and the trend is expected to continue in the near term.
The decline in sales of these companies has also been impacted by a shift in consumer preference towards SUVs and electric vehicles. The government’s push for electric vehicles and the increasing popularity of SUVs have led to a decline in demand for traditional passenger vehicles.
On the other hand, Mahindra & Mahindra and Toyota Kirloskar Motor have been able to buck the trend and report an increase in their sales figures. The success of their SUVs and electric vehicles has helped them to drive growth and maintain their market share.
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 recording a decline in their sales figures, while Mahindra & Mahindra and Toyota Kirloskar Motor reported an increase. The decline in sales of these companies can be attributed to a slowdown in demand, weak consumer sentiment, and a lack of new launches. However, the success of their SUVs and electric vehicles has helped them to drive growth and maintain their market share.
