September proved good for two-wheelers; car makers catching up
Mahindra & Mahindra (M&M) posted a 5 per cent growth in domestic sales during September 2015 compared to the same period last year
Mumbai: The domestic automobile industry has come out with encouraging sales figures for the month of September with the two-wheeler segment posting robust growth and the four-wheeler segment reporting marginal improvement in their monthly sales. With a couple of new launches lined up by leading auto firms, and a change in consumer sentiments ahead of the festive season, industry experts feel that the auto industry would be able to maintain its positive momentum going forward and improve its performance as compared to the previous financial year.
While Mahindra & Mahindra (M&M) posted a 5 per cent growth in domestic sales during September 2015 compared to the same period last year, Maruti Suzuki, Honda Cars and Hyundai Motor India reported a growth of 9.8 per cent, 45 per cent and 14.5 per cent respectively during the same period. After reporting a negative growth over the past couple of months, M&M registered a positive volume growth in sport utility vehicles (SUV).
“The sales numbers for September have been encouraging and we are glad that the automotive industry is turning the bend. We expect the ensuing festive season to bring in some much needed cheer with a slew of new launches from manufacturers as well as a stable and decreasing fuel price,” said Pravin Shah, chief executive, automotive division and international operations, M&M
“In this festive season, we are seeing significant increase in first time buyers and exchange buyers, which is very encouraging as it will accelerate the positive momentum already bei-ng experienced in the last few months,” said Rakesh Srivastava, senior vice-president, sales and marketing, Hyundai Motors.
“There has been a turnaround in sentiments with enquires getting converted into sales. Leading auto companies have lined up new product launches in the coming months. With the consumer sentiments turning positive, the two-wheeler industry is likely to grow by 12-13 per cent,” said Surjit Arora, auto analyst at Prabhudas Lilladher.
( Source : dc correspondent )
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