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Auto sales gear up in Sept; await festive season for added fuel
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SME Times News Bureau | 01 Oct, 2020
Base effect along with a rebound
in domestic demand led major automobile players to report healthy
year-on-year and sequential sales numbers for September.
Analysts
cited factors such as healthy monsoon, pent up demand and preference
for personal mobility over public transport due to the pandemic as other
key reasons for the upswing.
Leading the pack was automobile
major Maruti Suzuki's total sales in September rose over 30 per cent to
160,442 units from 122,640 units sold during the corresponding month of
last year.
"This is a growth of 30.8 per cent over the same
period previous year. The performance has to be seen in the context of
lower base of September 2019. Total sales include domestic sales of
150,040 units and 2,568 units for other OEMs. In addition, the company
exported 7,834 units in September 2020," the company said in a
statement.
"However, the company's sales during the first half of
FY21 declined by 36.6 per cent to 469,729 units over H1 April-September
(FY2019-20).
Similarly, automobile major Hyundai Motor India's
cumulative sales rose during September. It increased by 3.8 per cent to
59,913 units from an offtake of 57,705 units sold during the like period
of the previous year.
The company's total domestic offtake
during the month under review increased by 23.6 per cent to 50,313 units
from 40,705 units sold during the corresponding month of last year.
However,
the company's exports fell by 43.5 per cent to 9,600 units during the
month under review from 17,000 units shipped out during September 2019.
"In
the changing business environment, the green shoots of recovery are
clearly visible with sales improving on a month-on-month as well as year
on year basis," said Tarun Garg, Director (Sales, Marketing &
Service), Hyundai Motor India Limited.
"We are confident that the
coming festive season will drive the market on a steady recovery path
with positive customer sentiments."
However, auto majors such as
Mahindra and Mahindra reported a fall of 17 per cent in its total sales
during September, on a year-on-year basis.
The company sold 35,920 units, including exports, last month, compared to 43,343 vehicles sold during the same period last year.
It
reported a fall of 16 per cent in domestic sales last month to 34,351
units from an offtake of 40,692 units in September 2019.
"With
market sentiments indicating a robust festive demand across segments,
both in rural and urban markets, we are positive that this festive
season will augur well for us as well as the automotive industry," said
Veejay Nakra, Chief Executive Officer, Automotive Division, M&M.
Other
auto giant Tata Motors' domestic sales rose 37 per cent to 44,444 units
from 32,376 sold during the corresponding period of 2019.
The total passenger vehicles segment of the company rose 162 per cent to 21,199 units from 8,097 units sold in September 2019.
In
terms of two-wheelers, Hero MotoCorp's sales rose 16.9 per cent in
September to 715,718 units over the corresponding month of the previous
year, when the company had sold 612,204 units.
Honda Motorcycle and Scooter India (HMSI) reported positive sales growth for the second consecutive month in FY21.
The
company's YoY domestic sales zoomed by double digit 10 per cent growth
to close at 500,887 units compared to 455,896 units sold in September
2019).
"With additional 25,978 units' export, Honda clocked total
sales of 526,865 units in Sep'20 (vs 485,663 unit total sales in
Sep'19),".
Two-wheeler and commercial vehicle manufacturer Bajaj
Auto too reported a healthy growth in total sales during September on a
year-on-year basis.
Its total sales during the month under review
grew by 10 per cent to 441,306 units from 402,035 units sold during the
corresponding month of 2019.
Bajaj Auto's total domestic sales
rose. It stood at 228,731 units -- up 6 per cent -- from 215,501 units
sold in September last year.
The company's overall exports zoomed
by 14 per cent to 212,575 units from 186,534 units shipped out during
the like month of 2019.
"Passenger vehicle wholesale sales
numbers indicate a clear demand catchup happening and normalcy slowly
returning to the industry," Sridhar V, Partner, Grant Thornton Bharat
LLP said.
"The sentiments are turning positive and one is hoping it should strengthen during the festive season."
Additionally,
Suman Chowdhury, Chief Analytical Officer at Acuite Ratings and
Research said: "In our opinion, the encouraging data on factory
despatches by automobile companies reflect three factors - the
continuing importance of personal mobility in a pandemic environment,
improved demand environment in the rural and semi-urban areas vis-a-vis a
lower base last year and the increased stocking by dealers in
expectation of a pent up demand during the ensuing festive season."
"Clearly,
the need for personal mobility has got significantly enhanced in the
wake of the pandemic and the continuing disruption in the public
transportation system."
According to Shamsher Dewan, Vice
President, ICRA: "A strong performance by 2W OEMs in September 2020
likely reflects the channel filling before the upcoming festive season."
"It
is expected that a low base, upbeat rural sentiments and increased
preference for personal mobility would support retail demand in the
festive season. Nonetheless, the uncertainty surrounding the pandemic
persists and recovery is expected to be gradual at best."
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Customs Exchange Rates |
Currency |
Import |
Export |
US Dollar
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66.20
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64.50 |
UK Pound
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87.50
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84.65 |
Euro
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78.25
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75.65 |
Japanese
Yen |
58.85 |
56.85 |
As on 13 Aug, 2022 |
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