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Auto Sales: Due to strong demand, wholesale sales of passenger vehicles crossed the 3.35 lakh mark in February. All major vehicle manufacturers have registered a growth in sales on a year-on-year basis. Compared to a year ago, total vehicle sales increased by 11 percent to cross 3.35 lakh units last month. This is a record figure for wholesale sales of vehicles in the month of February.
The country’s largest carmaker Maruti Suzuki India (MSI) registered a growth of 11 per cent in wholesale sales in the domestic market at 1,55,114 units as against 1,40,035 units in the same month last year. However, in February 2023, the company’s exports declined by 28 percent to 17,207 vehicles as against 24,021 units a year ago.
Shashank Srivastava, senior executive officer (marketing and sales) of Maruti Suzuki, said that in the current financial year so far, the company has supplied 15.08 lakh vehicles, which is 23 percent more than 12.27 lakh vehicles in the same period a year ago.
However, he admitted that the demand for new cars has been affected slightly due to increase in interest rates on vehicle loans. Apart from this, production is still being affected due to low availability of semiconductors.
Hyundai Motor India’s sales in the domestic market also increased by seven percent to 47,001 units. In February 2022, this figure was 44,050 units. The company said that in February 2023, it also exported 10,850 vehicles from India, which is 19 percent more than 9,109 vehicles a year ago.
Domestic vehicle manufacturer Tata Motors said that its passenger vehicle sales (including electric vehicles) in the domestic market stood at 43,140 units in the month under review. In the same month a year ago, this figure was 40,181 units.
Mahindra & Mahindra (M&M) delivered 30,358 passenger vehicles in the domestic market in February, up 10 per cent from 27,663 units a year ago. Vijay Nakra, head of M&M’s automotive segment, said the SUV segment is a significant contributor to the company’s sales and is consistently selling 30,000 SUVs. The recently introduced Thar RWD and XUV400 are also getting good customer response.
Kia India’s wholesale sales in the domestic market grew by 36 percent year-on-year to 24,600 units. The company’s head of sales and marketing Hardeep Singh Brar said that Kia’s 35.8 per cent growth compared to the industry’s 10 per cent growth reflects consumer confidence.
Toyota Kirloskar Motor’s wholesale sales in the domestic market grew by 75 percent to 15,338 units. The company’s Vice President (Sales and Strategic Marketing) Atul Sood said that on the back of good customer support, the company is expected to end the fourth quarter on a strong note.
In the two-wheeler segment, Bajaj Auto sold 1,53,291 vehicles in the domestic market, which is 36 percent higher than the February 2022 figure of 1,12,747. TVS Motor’s domestic sales grew by 28 per cent to 2,21,402 units as against 1,73,198 units sold a year ago. However, its motorcycle sales have decreased in comparison to the company’s scooters.
At the same time, domestic sales of Royal Enfield, known for its powerful motorcycles, increased by 24 percent to 64,436 units from 52,135 units a year ago. (with language input)
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