Indian automakers report healthy sales in Jul'21

Indian automakers posted impressive sales growth in Jul'21 on the back of pent-up demand. The low base a year ago due to the pandemic-induced disruptions also helped the auto companies to post higher sales numbers in Jul'21.

The largest carmaker in the country,Maruti Suzuki,continues to stay miles ahead of its peers.In Jul'21, Maruti sold over 1.33 lakh cars in India compared to just under 98,000 units in the same month last year. This shows around 36% rise in sales. Sales rose 10% m-o-m to 162,462 units in July, the company said in a statement.

The second-biggest car brand in India in terms of volume sales, Hyundai, too recorded a 26% y-o-y growth last month with 48,042 units sold. The South Korean auto major sold 38,200 units in the same month a year ago. Tata Motors was in third position but recorded a huge 101% uptick when compared to last year. Around 30,185 units were sold in Jul'21 against 15,012 sold in the same month last year.

Mahindra and Mahindra's, passenger car segment rose 24.43% in July to 21,046 units against June.?The farm equipment segment, however, saw a m-o-m drop as tractor sales fell 43.53% in July to 27,229 units.

"We continue to stay bullish on tractor demand in the coming months owing to the revival of monsoon, hike in MSP of key Kharif crops and upcoming festival season," Hemant Sikka, President of the farm equipment sector at M&M, said.

Domestic two-wheeler sales remained flat with just a 2% y-o-y rise to 156,232 units in Jul'21.India's largest two-wheeler manufacturer,Hero MotoCorp Ltd,sold 454,398 units in July, the company said in an exchange filing.

Hero MotoCorp's sales fell 3% in July, led by decline in sales of the motorcycle segment.Bajaj Auto's ?two-wheeler sales remained stagnant at 0.3% to 156,232 units in July.

TVS Motor Company'sdomestic two-wheeler sales stood at 175,169 units in Jul'21.

Ashok Leyland reported overall sales of 8,650 units in July, an increase of 34% over June, according to the company's exchange filings.Domestic medium and heavy commercial vehicle sales rose to 3,473 units from 2,364 units in June. Tata Motors'commercial vehicle division sold 23,848 units in July, an 8% rise over June.

The Indian automotive industry is still reeling from the effects of the second wave of the pandemic that impacted sales and production. Though the recovery is not as swift as after the first wave of Covid in India, the improving buying sentiment is certainly good news for carmakers.