Auto sales surge on lowering fuel prices

Most of the Indian auto-makers Monday reported healthy sales last month on the back of surge in consumer sentiment and lowering fuel prices.

With international crude oil prices going below $70 a barrel, Indian retailers have recently cut petrol and diesel prices. Prices of both the fuels have been reduced by three rupees in November itself.

India's passenger car market leader Maruti Suzuki reported an increase of 19.5 percent in its November sales, which stood at 110,147 units up from 92,140 units in Nov 2013.

According to the company, its domestic sales grew by 17 percent in the month under review, which stood at 100,024 units from 85,510 units sold in Nov 2013.

Exports for the month under review zoomed by 52.7 percent, as the company shipped out 10,123 units from 6,630 units sold abroad in the comparable period last year.

Chennai-based Hyundai Motor India's November sales grew 8.7 percent at 54,011 units, up from 49,681 retailed during November 2013.

"Hyundai with a volume of 35,511 units indicate strong demand for Hyundai models, giving growth month after month, bettering the industry slow growth.
The strong investment of launching four new products in a year's time has resulted in this growth," said Rakesh Srivastava, senior vice president, sales and marketing, Hyundai Motor India.

According to the company, its domestic sales stood at 35,511 units, representing a rise of six percent from off-take of 33,501 units in November 2013.

Exports wise, the company shipped out 18,500 units during the month under review, an increase of 14.3 percent from 16,180 units sold abroad during the corresponding period of last year.

Indian automobile giant Tata Motors' reported a marginal sales increase for last month at two percent. The company sold 41,720 units overall from 40,863 units pick-up in Nov 2013.

In the domestic market, the company's sales grew by just 0.6 percent at 37,427 units from 37,192 units sold in November 2013.

However, Indian automobile major Mahindra and Mahindra's sales plunged 13 percent during last month at 34,292 units from an off-take of 39,254 units.

"The auto industry continues to face its sluggish demand on the back of factors such as low consumer sentiments and high interest rates," said Pravin Shah, chief executive, automotive division and international operations (AFS), Mahindra & Mahindra.

Japanese automobile manufacturers like Toyota Kirloskar Motor (TKM) and Honda Cars came out with healthy sales numbers for last month.

According to sales figures, Bangalore-based TKM reported an increase of 11 percent in sales last month, which stood at 14,134 units, including exports from 12,748 units in the corresponding month last year.

Premium automobile manufacturer Honda Cars India said its monthly domestic sales stood at 15,263 units last month, which represented a growth of 64 percent.

The company had sold 9,332 in the corresponding month last year. US auto major Ford India sold 12,762 units (domestic 5,661 units, exports 7,101 units) last month, up from 12,050 units (domestic 7,909 units, exports 4,141 units) during November 2013.
Two- and three-wheeler maker TVS Motor logged 36 percent sales growth last month at 220,046 units (two wheelers 210,979 units, three wheelers 9,067 units) from 161,908 units (two-wheelers 155,604 units, three-wheelers 6,304 units) sold in November 2013.

Yamaha Motor India sold 12 percent more last month in domestic market at 44,678 units from 39,777 units while Suzuki Motorcycle reported a two percent increase in its November 2014 sales at 33,400 units from 32,799 units off-take in the corresponding month of last year.