The yearend automobile sale has driven robust growth in the month of November, 2017 maintaining the pace it gathered during the Dussehra-Diwali festive season in the previous month. Almost all Indian automakers have recorded double digit growth in sales in the month. The wholesale data released by the companies on last Friday shows this impressive trend in deliveries to the retail outlets. The current month of December, 2017 being the last month of the year is also expected to maintain this growth trajectory as the companies throws heavy year end discounts to clear the inventory.
The market leader, Maruti Suzuki reported over 14% growth in November, 2017 raising the sales from 1.3 lakh units to 1.4 lakh in the same month in the previous year. However, the company’s export growth remained sluggish showing a meager growth rate of 0.8%.
|Robust Growth in Auto Sales in November 2017|
|Company||Sales in November 2016||Sales in November 2017||Percentage Change|
Toyota recorded a downslide of its export by 46% during the month whereas Ford India recorded a jump of 36% export growth, being the best ever by the company in India.
Mahindra and Mahindra has recorded 21% rise in the overall sale numbers rising from 13,200 units in November to 16,000 units in the corresponding period in the previous year.
Maruti Suzuki has been maintaining a robust demand for the models like Brezza mini SUV and Desire sedan and is also focusing its efforts on R&D to enter the electric vehicle segment.
Hyundai also recorded the double digit growth rate of 10% in November 2017 as compared with its previous year’s data of November 2016. It sold 44,000 vehicles as against the 40,000 vehicles in the same month last year. Hyundai is also in the process of coming up with its mini electric car soon.
Tata Motors has recorded an impressive growth rate of 35% with sales crossing 17,100 units in Novemeber 2017 as compared to 12,700 during the same period last year. Tata motors has launched a series of new cars in recent times and is eying on showcasing new cars including compact SUVs in the forthcoming Auto Expo 2018 to be held in February, 2018. The recently launched Tata Nexon, a subcompact SUV is scoring very high on demand and the company is in the process of ramping up the production at its Ranjangaon production facility, near Pune in Maharashtra to meet the rising demand.
The Honda Cars recorded the highest growth of 47% in volumes. In absolute terms, its sale figures stood at 11,800 units in November 2017 as compared to 8,000 units sold in the same period in the previous year.
The two wheeler maker, Royal Enfield has recorded another month of positive growth figure in sales in India rising to 67,700 units in November 2017 from the previous year’s data of 55,800 units for the same period registering a jump of 21%. On export front, it performed even better registering a growth of 60% in November 2017 over the same period previous year. In absolute terms it exported 2350 vehicles rising from 1470 vehicles in the same period in the previous year.
With the signs of recovery of the Indian economy post demonetization and introduction of GST and government maintaining the reform process in the top gear, Indian market appears to be well placed to maintain the double digit growth in the automobile sector in the coming New Year, 2018 too.