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New Financial Year Starts off Well for Indian Passenger Car Makers

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Indian passenger car brands have witnessed a great start to the new financial year at least in most cases. Companies like Mahindra & Mahindra and Tata Motors have done extremely well for April 2018 along with market leaders Maruti Suzuki and Hyundai Motor India. However, Ford India has seen an overall sales slump of close to 40% while Honda Cars India Limited (HCIL) has also witnessed de-growth of more than 35% according to reports.

Maruti Suzuki has performed extremely well, selling a whopping 1, 72, 986 units for April 2018 which is 14.4% more than 1, 51, 215 units sold for April 2017. Out of this tally, domestic sales volumes have grown by 13.4% with 1, 63, 434 units being sold as compared to 1, 44, 081 units sold in April 2017. Commercial vehicle sales have soared by 275% with 1, 544 units sold in April 2018 as compared to 411 CVs sold for April 2017. Even exports have grown by 19.1% with 8, 008 units exported last month as compared to 6, 273 units in April 2017.

New Financial Year Starts off Well for Indian Passenger Car Makers

India’s market leader in the passenger car category has seen an excellent start to FY2018-19. Things have been good for Hyundai, the official number two in the market with 4.4% of overall growth posted. Cumulative sales volumes stood at 59, 744 units for the company last month as compared to 56, 368 units sold in April 2017. Domestic sales volumes of 46, 375 units have been notched up as compared to 44, 758 units for April 2017 while exports have grown to 13, 009 units last month from 11, 610 units in April 2017. A whopping 79% of total growth has come from sales figures of four popular models, namely the i20, Grand i10, Creta and new generation Verna.

Sales volumes touched 48, 097 units for Mahindra & Mahindra with sales in the domestic market touching 45, 217 units which indicates 19% of growth. Overall growth of 22% was posted by Mahindra & Mahindra for April 2018 since 39, 417 units were sold in April 2017. 21, 927 passenger vehicles were sold (growth of 13%) and 18, 963 commercial vehicles were sold (26% of growth). 904 vehicles were sold in the Medium & Heavy Commercial Vehicle segment while exports touched 2, 880 units (growth of 88%).

34% of growth was registered by Tata Motors with 17, 235 units selling for April 2018. 12, 827 units were sold in April last year. The Nexon and Tiago are notching up the sales volumes for the brand. In fact, as per reports, the Tata Nexon is clocking average monthly sales volumes in excess of 4, 100 units for the brand. Sales volumes went down to 9, 595 units however for Honda Cars India as compared to April 2017’s tally of 14, 922 units. Exports grew however to 452 units from 442 units in April 2017. This slight growth of 2.2% was negated by the 36% de-growth in domestic sales at 9, 143 units in April 2018 in comparison to 14, 480 units in April 2017.

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