Record auto sales in August, growth to exceed forecast: SIAM

The industry had witnessed a total sales of 12,37,461 units in July this year. On the back of the continued robust growth, Society of Indian Automobile Manufacturers (SIAM) said auto sales will exceed the forecast it had made earlier this fiscal.

The overall vehicle sold in the domestic market during August grew by 25.24 per cent from 10,08,712 units in the same month last year.

SIAM said the record number in August was driven by best ever monthly sales achieved in passenger cars, passenger vehicles, two-wheelers and multi-utility vehicles segments.
"The fundamentals of the economy continue to be strong and consumer confidence is high. These are driving the growth of sales of vehicles, mainly in the personal usage segments," SIAM Director General Vishnu Mathur told reporters here.

According to SIAM, domestic passenger car sales jumped by 33.24 per cent to 1,60,794 units in August compared to 1,20,681 units in the same month last year. The August sales was the best ever monthly sales, bettering the previous best of 1,58,764 units in July this year.
Similarly, motorcycle sales of 7,27,542 units, up 19.04 per cent to from 6,11,168 units in the same month last year, was also a record. The previous highest of 7,25,311 units was achieved in May this year.

Total two-wheeler sales of 9,57,304 units in August, up 23.24 per cent to from 7,76,772 units in the same month last year, was also a record. The previous best was in July this year at 9,38,514 units.

Sales of commercial vehicles jumped by 28.12 per cent to 52,030 units from 40,609 units in the year-ago period.
Mathur said with sales continuing to be robust, SIAM expects the industry to exceed its predictions made earlier this year.

SIAM had forecast that passenger vehicles sales to grow around 13 per cent this fiscal, which is now witnessing a growth of around 30 per cent.
"Similarly, utility vehicles are growing at around 17 per cent as against a forecast of 14 per cent," he said, adding the commercial vehicles segment is also growing at 24 per cent as against a forecast of 19-20 per cent for 2010-11.

During August, the country's largest carmaker Maruti Suzuki India posted domestic sales of 78,351 units, up 24.31 per cent from the same month last year, SIAM said.

Hyundai Motor India had sales of 28,601 units, up 17.21 per cent from August last year. Tata Motors had sales of 22,312 units, up 51.21 per cent from the year ago period.
In the motorcycles segment, market leader Hero Honda witnessed a marginal decline at 3,86,574 units from 3,89,814 units in the same month last year.
Rival Bajaj Auto on the other hand, gained handsomely at 2,09,567 units, up 72.27 per cent from the same month last year. TVS Motor Co had a sales of 49,630 units, up 22.51 per cent from the same month last year.

According to the SIAM data, scooters segment grew by 43.63 per cent at 1,70,482 units during August. The growth was led by Honda Motorcycle and Scooter India with sales of 74,405 units, up 27.72 per cent from the year-ago period.

Hero Honda's scooter sales were at 26,588 units, up 43.63 per cent, while that of TVS Motor Co were at 39,171 units, up 41.53 per cent from August last year.
Mathur said despite marginal increase on interest, sales are expected to continue to be robust.
"Slight marginal increase in interest rates are only disruptive, it is not going to hamper growth," he said, however, adding with the base effect showing a decline there could be a moderation of growth rate.

He said already the commercial vehicles segment is witnessing a moderation in sales growth after hitting a peak in March this year with the highest ever monthly sales of 67,362 units.
During August, the three-wheeler segment registered sales of 49,732 units as against 39,207 units in the same month last year, up 26.84 per cent, SIAM said. 

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