Indian auto sales increase in August despite high fuel costs and shortage of electronic components
Major Indian automakers posted healthy sales figures for August despite high fuel costs as well as shortages of electronic components. The sales growth momentum slowed from July to August but was faster year-on-year due to the base effect.
Last year, the national lockdown triggered by the pandemic from the end of March 2020 had a massive impact on the sector. However, this year the lockdowns were more regional in nature but fewer restrictions. However, the high cost of fuel as well as the shortage of electronic components hampered sales and extended wait times.
In terms of sales, total sales of automotive major Maruti Suzuki in August reached 130,699 units, compared to 124,624 units sold in the corresponding month of last year.
Total sales for the month included domestic sales of 105,775 units, sales to other OEMs of 4,305 units and exports of 20,619 units.
“The company’s sales volume in August 2021 was affected due to a shortage of electronic components. The company has taken all possible measures to limit the negative impact, ”the company said in a statement.
Hyundai Motor India also reported an increase in cumulative sales for August.
The company’s August sales rose more than 12.3% year-on-year to 59,068 units last month from 52,609 units sold in August 2020.
Geographically, domestic sales reached 46,866 units against 45,809 units reported for the corresponding period last year.
Likewise, the company shipped 12,202 units in August out of 6,800 units sold overseas in the same month of 2020.
Auto giant Mahindra & Mahindra’s overall auto sales for August 2021 stood at 30,585 vehicles.
Veejay Nakra, CEO of M&M, Automotive Division, said: “We sold a total of 30,585 vehicles and achieved 17% growth in the passenger vehicle segment, compared to the same period last year. “
“Demand across our product portfolio continues to remain strong with Thar, XUV 300 and our recently launched Bolero Neo and our Bolero Pik-up range recording an impressive number of bookings. The export growth momentum continued with the sale of 3,180 vehicles, registering an increase of 172 percent. “
Another auto giant, Tata Motors’ total August sales reached 57,995 units compared to 36,505 units sold in the corresponding month of last year.
Its total domestic sales during the month under review increased 53 percent to 54,190 units from a year ago.
Tata Motors’ commercial vehicle sales reached 29,781 units in August, compared to 17,889 units sold in the corresponding month last year.
Likewise, total sales of motor vehicles increased. Sales of the segment increased to 28,018 units compared to 18,583 units in August 2020.
“The semiconductor shortage continues to impact the automotive industry globally. Recent blockages in East Asia have worsened the supply situation and Tata Motors is therefore forced to moderate production and offtake volumes in the coming months, “he said.
Kia India also reported a 55% increase in sales in August 2021 on an annual basis.
It sold 16,750 units in August 2021, indicating improving consumer sentiment ahead of the holidays.
In the two- and three-wheeler segment, Bajaj Auto closed last month and sold 373,270 units compared to 356,199 units sold in August 2020.
Last month, the company shipped 200,675 units compared to 170,320 units in August 2020.
In terms of the two-wheeler segment, Hero MotoCorp reported total sales of 453,879 units, down from 584,456 units sold in the corresponding period last year.
Hero MotoCorp is gearing up for the upcoming holiday season, and with several positive indicators, such as the decent monsoon which encourages agricultural activity in most parts of the country, and the several government programs in the social sector, the business remains optimistic about demand in the coming months. “
“In addition, with the acceleration of the vaccination against Covid-19 and the opening of the last mile retail business, the numbers should be positive in the coming months. “
In addition, the total sales of Honda Motorcycle & Scooter India amounted to 430,683 units, including 401,469 domestic sales and 29,214 exports in August 2021.
Honda’s domestic sales broke the four lakh mark with growth of 18% from last month (July 2021), which stood at 384,920 units (domestic sales of 340,420 units and 44,500 exports).
“The month of August marks the beginning of the festive spirit in the country. With a steady monthly recovery in terms of inquiries and customer visits, we are cautiously optimistic for the future, we expect conversions to retail sales, ”said Yadvinder Singh Guleria, Director of Sales and Marketing at Honda Motorcycle & Scooter India.
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