Maruti, Honda, M&M post sales growth in January

Maruti Suzuki India, Honda Cars, and Mahindra & Mahindra posted sales growth in domestic market for January on account of improved market conditions.

While Hyundai Motor India reported a marginal growth, Toyota Kirloskar Motor witnessed a dip in sales last month.

Maruti Suzuki India (MSI), the country's largest car maker, Friday reported sales of 1,42,150 units last month, a growth of 1.1 per cent from 1,40,600 units in January 2018.

Mini segment cars comprising Alto and WagonR witnessed sales of 33,408 units as against 33,316 units in the year-ago month, marginally up by 0.3 per cent.

However, compact segment which consists of models like Swift, Celerio, Ignis, Baleno and Dzire witnessed a decline of 3.5 per cent at 65,523 units as compared to 67,868 units in January last year.

Sales of utility vehicles such as S-Cross, Vitara Brezza, Ertiga and Gypsy stood at 22,430 units as against 20,693 units in the year-ago period, a growth of 8.4 per cent, MSI said.

Homegrown utility vehicles major Mahindra & Mahindra (M&M) said its domestic sales last month rose six per cent to 52,500 units from 49,432 units a year ago.

"There is buoyancy in rural growth, commodity costs are levelling, fuel prices are coming down and we see improvement in forex movement, which in turn will drive positive customer sentiment," M&M President, Automotive Sector Rajan Wadhera said.

Honda Cars India Ltd (HCIL) on the other hand reported 23 per cent increase in domestic sales to 18,261 units in January 2019. The company had sold 14,838 units in the domestic market in January last year.

"Responding to the tepid market situation with extensive marketing efforts, including on-ground activations focusing on tier 2 and 3 markets, drove sales of all Honda models in the month," HCIL Senior VP and Director-Sales and Marketing Rajesh Goel said.

Hyundai Motor India reported a marginal increase in domestic sales at 45,803 units in January. It had sold 45,508 units in the year-ago period.

Toyota Kirloskar Motor (TKM) however reported 9.14 per cent dip in domestic sales last month when it sold 11,221 units as compared with 12,351 units in January 2018.

"With the closure of special offers/year-end schemes, the buying sentiment has witnessed a dip this month. The tightening of vehicle financing availability has also added to the challenges in the market," TKM Deputy Managing Director N Raja said.

Niche bike maker Royal Enfield reported 7 per cent dip in domestic sales at 70,872 units last month. It had dispatched 76,205 units in January 2018.