Car Sales Fall In May 2015 Except For Maruti Suzuki, Tata, Hyundai & Honda
Car sales in our country have been dwindling for the past few months now and remained low in the month of May for all manufacturers except Maruti Suzuki, Tata Motors, Hyundai and Honda. The first two companies were rather able to clock double-digit growth figures, while the latter two experienced a marginal increase in sales.
Maruti Suzuki experienced a rise in domestic sales by upto 13 percent in May having sold 1, 02,359 units as compared to 90,560 units sold in the same month last year. The Japanese company was helped with increase in sales of the Alto and Wagon R models, which collectively sold 35,062 units as against 29,068 units. Hyundai saw a growth of 3.4 percent when it sold 37,450 units last month, compared with 36,205 units sold in May 2014. The Korean company’s volumes grew to 37,450 units having sold more than 10,000 units of the Elite and Active i20 collectively in the past 4 consecutive months.
Tata Motors also had a good previous month with its sales crossing the 10,000 unit mark at 11,138 as compared to 9230 units sold in the same month last year. The rise of 20.67 percent was mainly possible due to the recently launched Zest compact sedan, which has been doing pretty good in its respective segment. Tata Motors’ President, Mayank Pareek said that the automotive market will still take more time to recover. Interest rates have been high, as a result of which many buyers are holding back on car loans and are waiting for the rates to come down soon.
Honda India also reported a marginal increase in domestic car sales having sold 13,431 units in May as compared to 13,362 units sold in the same period last year. Nashik based utility car maker, Mahindra on the other hand saw its sales decline by 6 percent even though the Scorpio facelift is doing well. The Indian manufacturer sold 33,369 units as compared to 35,499 units in May 2014. Same was the case with American car giant Ford which saw its sales decline by a huge 21.92 percent having sold 4726 units last month, in comparison to 6053 units sold a year ago.