Free Press Journal

Automakers begin new fiscal on strong note


New Delhi : Automakers began the new financial year on a strong note led by market leader Maruti Suzuki India (MSI) which posted a better-than expected rise in sales in April.

Home-grown companies Mahindra & Mahindra and Tata Motors also reported robust double digit sales growth during the month while Hyundai clocked a single-digit growth during the period. However, Ford posted a single-digit fall in sales in the month.

MSI, the country’s largest carmaker, reported a 14.4 per cent increase in total sales at 1,72,986 units in April against 1,51,215 units in the year-ago month. Its domestic sales stood at 1,64,978 units, up 14.2 per cent from 1,44,492 units last year.

Sales of mini segment cars, including Alto and WagonR, witnessed a 2.8 per cent decline to 37,794 units in the month from 38,897 units last year, MSI said.

Sales of the compact segment comprising Swift, Estilo, Dzire and Baleno jumped by 31.8 per cent to 83,834 units in April as against 63,584 units in the year-ago month.

Mahindra & Mahindra reported a 19.34 per cent increase in its sales in the domestic market at 45,217 units last month as against 37,889 units in the same period of last year.

“After a good FY18, we have had a strong start to FY19… The company has achieved good growth both in the personal and commercial vehicle segments,” M&M President, Automotive Sector, Rajan Wadhera, said.

Similarly, Tata Motors reported a 34 per cent jump in passenger vehicle sales at 17,235 units in April as compared to 12,827 units last year.

“While there were challenges in market, strong demand for new generation products like Tiago, Tigor, Nexon and Hexa lead the growth in April,” Tata Motors Passenger Vehicles Business Unit President Mayank Pareek said.

Hyundai Motor India posted a 4.4 per cent rise in domestic sales at 46,735 units last month as compared to 44,758 units in April 2017.

On the other hand, Ford India reported a 2.49 per cent dip in its domestic sales last month at 7,428 units. The company had sold 7,618 units in the year-ago month.