India’s August auto sales slipped by 5pc to 1.95mn units. This includes sales reported by major passenger vehicles, commercial vehicles, farm segment and two and three-wheeler, manufacturers.
Maruti Suzuki’s sales jumped up by 5pc to 130,699 units, Honda Cars India’s sales roes by 69pc to 13,439 units, while Toyota Kirloskar’s sales surged by 130pc to 12,772 units in August from the prior year.
Ashok Leyland sales increased by 44pc to 8,400 units and Eicher Motor’s heavy vehicle sales surged by 94pc in August.
Two-wheeler sales suffered with most companies posting a sales drop compared to the prior year. TVS’s sales were flat, while Hero MotoCorp and Honda two-wheeler sales declined by 22pc and 9pc, respectively.
Hero MotoCorp noted several positive indicators, including the decent monsoon resulting in encouraging farm activity in most parts of the country, and the several government schemes in the social sector. The automaker said it is all set for the festive season and remains optimistic of a surge in demand.
Wide distribution of the COVID-19 vaccine and easing of COVID-19 restrictions could boost sales in the coming months.
Farm sector auto manufacturer, Escorts is optimistic of sales due to the upcoming festive months amid positive sentiment from farmers as inquiries increased. This could be attributed to favourable macroeconomic factors, good water level of reservoirs, good pace of Kharif sowing and continued government support for the agri sector.
Some auto manufacturers were forced to halt operations owing to the shortage of semiconductors. The passenger vehicle segment is facing supply issues. Maruti Suzuki, M&M and Tata Motors expect September productions to drop amid the semiconductor crunch.
|India auto sales in August of major companies|
|Company||August 2021||August 2020||Pc Change YoY|
|Eicher Motors (Royal Enfield)||45,860||50,144||-9%|
|Eicher Motor heavy vehicles||4,793||2,477||94%|
|Mahindra & Mahindra auto||30,585||30,426||1%|
|Mahindra & Mahindra farm equipment sector||21,360||24,458||-13%|
|Honda Cars India||13,439||7,959||69%|