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Mixed luck for auto companies during festive October (Roundup)

Chennai/Kolkata, Nov 1 (IANS) Despite being the month when Diwali was celebrated, October turned out to be a mixed bag for Indian automobile makers with some logging growth and some not so lucky.

“The auto industry has had a mixed month. The build up to Dhanteras and Diwali was good but the demand tapered off subsequently. In 2016 all festivals were in the month of October and the industry volumes had a high base. This year, September and October combined, we have grown by 7.9 per cent in auto division,” Rajan Wadhera, President-Automotive Sector, Mahindra and Mahindra Ltd was quoted in a statement.

“Going forward, we enter into a year-end period of lower sales. Our refreshes and new variants, that have been launched, will carve out a niche and we expect to sustain the growth momentum for the remaining period of the current financial year,” he added as his firm reported sales of 51,149 units, down from 52,008 units sold the same month in 2016.

In the passenger vehicle segment, Maruti Suzuki last month grew its sales volumes by 9.5 per cent selling 146,446 units up from 133,793 units sold in October 2016.

Of the total, domestic sales were at 136,000 units, up by 9.9 per cent over the corresponding month a year ago, while exports stood at 10,446 units, an increase of 4.2 per cent over the corresponding month in 2016.

On the other hand, the second largest car maker in India Hyundai Motor India Ltd and Ford India saw their sales volume going down last month.

Hyundai Motor sold 49,588 units in the domestic market from 50,017 units sold in October 2016 while Ford India sold 15,033 units down from 22,043 units sold in the same month last year.

Ford India said booking for its new EcoSport model opens on November 2 and the vehicle will be launched on November 9.

In a statement, it said its domestic wholesales in October stood at 4,218 vehicles, as against 7,508 units a year ago, while exports were at 10,815 vehicles, compared to 14,535 units in 2016.

Toyota Kirloskar Motor sold a total of 14,000 units logging six per cent volume growth over October 2016 figures, while Tata Motors – makers of both commercial vehicles and passenger cars – sold a total of 48,886 units (commercial vehicles 32,411 units, passenger vehicles 16,475 units) logging a volume of five per cent over its 2016 figures for the same month.

Meanwhile, commercial vehicles major Ashok Leyland Ltd sold 12,914 units last month, up from 12,534 units sold in October last year.

VE Commercial Vehicles Ltd – a Volvo Group and Eicher Motors joint venture – sold 5,228 units last month as compared to 4,560 units in October 2016, recording a growth of 14.6 per cent.

In the two-wheeler segment, Eicher Motors continued its success logging 18 per cent volume growth last month selling 69,492 units up from 59,127 units sold in October 2016.

For the period April-October 2017, the company has sold 456,355 units up from 373,551 units sold during the corresponding period in 2016.


Post Source: Ians feed

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