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Carmakers maruti Suzuki, Hyundai, Honda and Toyota posted year-on-year growth in domestic sales in July even though the numbers were sequentially lower for almost all players.
Maruti Suzuki India reported a 19.9% increase in domestic sales at 90,093 units against 75,145 units in the same month last year. Its sales were driven mainly by the compact segment, comprising the Swift, Estilo adnd Ritz. Sales in this segment rose 81.2% to 25,156 units during the month.
MSI said sales of its popular compact sedan Dzire rose 22.2% to 18,634 units against 15,249 units a year ago.
Rival Hyundai Motor India posted growth of 12.69% in domestic sales at 29,260 units compared to 25,965 units in the same month last year.
HMIL senior vice-president (sales and marketing) Rakesh Srivastava said: "The green shoots of growth are visible with the stabilisation of macro-economic factors and near-to-average monsoon." He said the demand pull created by product launches and strong channel spread have brought down discounts.
Honda Cars India reported a 39.97% increase in domestic sales at 15,709 units compared to 11,223 units in July last year. Senior vice-president, marketing & sales, Honda cars, Jnaneswar Sen, said the Mobilio has received a good response with over 10,000 bookings since its launch.
The previous government had in the interim Budget cut the excise duty on small cars, scooters, motorcycles and commercial vehicles to 8% from 12%.
Utility vehicles major M&M’s domestic sales went down 4.18% to 33,047 units. M&M chief executive (automotive division) Pravin Shah said: “With the monsoon now setting in across the country as well as the ensuing festival season, we expect positive sentiment in the coming months resulting in enhanced demand for our products.”
The country's largest two-wheeler maker Hero MotoCorp reported an 8.67% increase in total sales at 5,29,862 units against 4,87,545 units in the same month last year. Yamaha Motor India also reported a 36% increase in domestic two-wheeler sales at 50,286 units .