Auto companies ride out cash ban blues, sales gather steam

 

LATEST NEWS – Major automobile makers Maruti, Ford, Toyota, Tata Motors and Honda on Wednesday reported strong domestic passenger vehicles sales growth for February as the industry continued to recover from the demonetisation impact.

The country’s largest car maker, Maruti Suzuki India (MSI) said its domestic sales stood at 120,735 units, up 11.7 per cent from 108,115 in February last year.

The company’s growth was mainly driven by compact segment comprising Swift, Estilo, Dzire and Baleno, which grew by 9.4 per cent to 47,002 units last month as against 42,970 in the year-ago period.

Sales of utility vehicles, including Gypsy, Grand Vitara, Ertiga, S-Cross and compact SUV Vitara Brezza, zoomed 110.5 per cent to 17,863 units in February, from 8,484 in the same month of 2016, Maruti Suzuki said.

However, MSI’s sales of mini segment cars, including Alto and WagonR, were down 6.8 per cent at 33,079 units during the month under review compared to 35,495 in February 2016.

Ford India reported a 52 per cent jump in its domestic sales at 8,338 units last month as against 5,483 in the same period a year earlier.

Ford India Executive Director, Marketing, Sales and Service Anurag Mehrotra said, “The industry is seeing some green shoots, recovering from the impact of demonetisation.” READ MORE

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