New Delhi: India’s passenger vehicle industry witnessed robust growth in July as leading automakers posted strong year-on-year sales Saturday, led by sustained demand for SUVs, a sharp rise in electric vehicle sales and healthy export momentum.
Hyundai Motor India posted its highest-ever monthly sales since inception at 75,360 units in July — a 25.4 per cent year-on-year growth. Domestic sales rose 23.3 per cent to 54,210 units — its best-ever July performance — while exports climbed 31.4 per cent to 21,150 units, the company’s highest monthly export volume in more than 100 months.
“We have kicked off the new quarter on a strong note. Achieving 75,360 total sales, our highest-ever monthly volume since inception, underscores the immense trust consumers place in brand Hyundai,” HMIL Managing Director and CEO Tarun Garg said.
However, Hyundai Motor Group-owned Kia India also reported its best-ever July wholesale performance with dispatches increasing 27.4 per cent year-on-year to 28,200 units. Cumulative dispatches during January-July stood at 1,91,949 units, up 16.8 per cent from the year-ago period.
Meanwhile, Tata Motors Passenger Vehicles (TMPV) reported total sales of 63,760 units in the domestic and international markets in July, up 59 per cent from 40,175 units in the year-ago period. Domestic passenger vehicle sales stood at 62,611 units, up 58 per cent.
TMPV’s electric vehicle business continued to outperform, with EV sales more than doubling to 15,217 units from 7,124 units a year earlier.
In addition, Mahindra & Mahindra (M&M) reported a 26 per cent increase in total auto sales to 1,03,860 units during the month. Domestic utility vehicle sales — which account for the bulk of its passenger vehicle business — rose 20 per cent year-on-year to 60,048 units.
Moreover, Nissan Motor India also reported record monthly wholesale volumes, with total dispatches rising to 9,339 units. Domestic wholesales surged 218 per cent year-on-year to 4,518 units, while exports stood at 4,821 units.
The company attributed the strong performance to the launch of its new TEKTON SUV, customer deliveries of which commenced during the month, expanding its SUV portfolio alongside the Magnite and Gravite.
The July sales performance indicates that demand for sport utility vehicles continues to drive growth in the domestic passenger vehicle market, while rising exports and strong electric vehicle sales are providing additional momentum for automakers.
IANS
