SME Times is powered by   
Search News
Just in:   • High cost of credit biggest challenge for SMEs: co-founder  • GST rates cut with eye on elections: Chidambaram  • Submitting documents in government offices still a headache  • Modi's Africa visit to boost ties with the continent further: Govt  • GST Council cuts rates on 88 items, industry hails move 
Last updated: 02 Jan, 2018  

Car.9.Thmb.jpg Domestic demand, discounts push Dec auto sales higher

   Top Stories
» Modi's Africa visit to boost ties with the continent further: Govt
» GST Council cuts rates on 88 items, industry hails move
» 'Govt scheme benefits should reach the poorest of the poor'
» Corporate India at risk of sudden policy change: Assocham
» Modi accuses Congress of 'underground loot of banks'
SME Times News Bureau | 02 Jan, 2018
Robust domestic demand along with end of season discount offers led to automobile manufacturers reporting healthy sales figures for December.

"Passenger vehicle sales for December has helped end the calendar year on a positive note with sales showing continued buoyancy across domestic and export markets," Sridhar V, Partner, Grant Thornton India, told IANS.

Passenger car major Maruti Suzuki India's total sales rose 10.3 per cent to 130,066 units from 117,908 units sold during the corresponding month of 2016.

"Maruti Suzuki India Limited, leader in passenger vehicles, sold a total of 130,066 units in December 2017, growing 10.3 per cent over the same period of last fiscal," the auto major said in a statement.

"This includes 119,286 units in domestic market and 10,780 units of exports. The company had sold a total of 117,908 units in December 2016."

Maruti Suzuki's domestic sales edged higher by 12.1 per cent to 119,286 units from 106,414 units, whereas, exports dipped by 6.2 per cent, with 10,780 units that were shipped out during last month, up from 11,494 units sold abroad in December 2016.

Similarly, Hyundai Motor India too reported a healthy growth in its overall sales.

HMIL's total sales including exports for December 2017 total sales rose by 10 per cent to 62,899 units from 57,164 units sold during the corresponding month of 2016. Domestic sales during the month under review increased to 40,158 units from an off-take of 40,057 reported during December 2016.

However, exports reported an exponential growth of 32.9 per cent with 22,741 units being shipped-out during December 2017 from 17,107 units sold abroad during the like period of 2016.

Further, HMIL's domestic sales during calendar year 2017 grew by 5.4 per cent to 527,320 from an off-take of 500,539 units off-take n 2016.

Commenting on 2017 performance, HMIL's MD and CEO Y.K. Koo said: "The calendar year 2017 has been an year of performance for Hyundai Motor India surpassing its Business Plan of 2017 registering highest-ever domestic volume of 527,320 units, a growth of 5.4 per cent on strong performance of the newly launched super sedan Next Gen Verna along with Grand i10, Elite i20 and Creta."

"The positive momentum in urban and rural retail sales supported with strong after-sales service and low-cost of ownership has gained customer confidence to become most loved and trusted brand in India."

Another automobile major Mahindra & Mahindra's (M&M) sales rose by 8 per cent to 39,200 units from 36,464 units sold during December 2016.

The company's domestic sales during the month under review increased by 7 per cent to 36,979 units from an off-take of 34,411 reported in the corresponding month of 2016.

Exports rose by 8 per cent to 2,221 units being shipped-out during December 2017 from 2,053 units sold abroad during the like period of 2016.

Commenting on the monthly performance, Rajan Wadhera, company President, Automotive Sector, said: "We are happy to have ended December 2017 with a growth of 8 per cent. Our commercial vehicles growth for December has been encouraging at 24 per cent and we are particularly buoyed by our ongoing strong performance in the MHCV segment which indicates a vibrancy in the economy."

"Global automotive trends such as electric vehicles and shared mobility will be key indicators for 2018 and at Mahindra we would continue to be a key and innovative player."

Two and three wheeler maker TVS Motor Company's sales grew by 39 per cent last month to 256,909 units as against 184,944 units sold in December 2016.

Last month, the company sold 247,630 two wheelers and 9,279 three wheelers up from 179,551 two wheelers and 5,393 three wheelers sold in December 2016.
Print the Page Add to Favorite
Share this on :

Please comment on this story:
Subject :
(Maximum 1500 characters)  Characters left 1500
Your name:

  Customs Exchange Rates
Currency Import Export
US Dollar
UK Pound
Japanese Yen 58.85 56.85
As on 23 Jul, 2018
  Daily Poll
Is counterfeiting a major threat to SMEs?
 Can't say
  Commented Stories
» Starting an import export business: Basic guide for beginners(11)
» Review of Companies Act 2013: A welcome step(10)
» GST Council reduces GST rates on 18 handicrafts items(2)
» Muthoot Finance Starts Mobile Surveillance Squads (1)
» 'SMEs lag behind in aviation component manufacturing'(1)
About Us  |   Advertise with Us  
  Useful Links  |   Terms and Conditions  |   Disclaimer  |   Contact Us  
Follow Us : Facebook Twitter