Auto cos report record sales in January

Major auto companies, including Maruti Suzuki, Mahindra & Mahindra and General Motors, today reported record sales for January, signalling that the worst is behind for the industry that was battered by the global economic meltdown.

Market leader Maruti Suzuki said its January sales at 95,649 units marked its highest ever sale for a month till now, up 33.3 per cent over the same month last year.

M&M too said it clocked its highest ever domestic monthly auto sales with 67.4 per cent increase in January at 28,988 units against 17,320 units in the same month last year.

For General Motors India as well January sales were the best in over 13 years of operations in India. GM sold 9,421 units, over two-fold jump against the same month last year.

Hyundai Motor India's domestic sales of 29,601 units in January is the highest since 1998.

Commenting on the auto industry, M&M President Automotive Sector Pawan Goenka, who is also the President of Society of Indian Automobile Manufacturers (SIAM), said: "We can say the worst is behind us provided there are no jolts in future in the form of hikes in interest rates, excise or commodity prices."

Maruti Suzuki Executive Officer (Marketing and Sales) Mayank Pareek said the sales performance were partly "thanks to the government's stimulus package".

The auto industry was suffering from demand slump since mid-2008 after the downturn hit the global economy.

Homegrown auto major Tata Motors said its total sales soared 77.30 per cent in January at 65,478 units. It had sold 36,931 units during the same month last year.

Honda Siel Cars India reported 3.64 per cent increase in sales in January at 5,983 units against 5,773 units in the corresponding month last year.

In the two-wheeler segment companies like Hero Honda, TVS Motor and Suzuki Motorcycle India, witnessed robust sales in January.

The country's largest two-wheeler maker Hero Honda posted 23.57 per cent jump in its January sales at 3,89,802 units compared to 3,15,458 units in the year-ago month. It is also planning to launch three new products by the end of this fiscal.

Chennai-based TVS Motor Company saw its two-wheeler sales climb 34 per cent at 1,25,578 units against 93,729 units in the same month last year.

Suzuki Motorcycle India posted a jump of 93 per cent in sales last month at 20,441 units over the same month in 2009.

However, India Yamaha saw its sales fall 3.94 per cent in January to 17,598 units from 18,320 units during the same month last year.