Car-makers start new fiscal on a lacklustre note

Our Bureau

Share  ·   print   ·   T+  

Sluggish economy, high interest rates keep buyers away

Ads by Google

Mahagun Mywoods Noida Ext - 2/3/4 BHK Flats Start @ 31.69 Lacs. Get Easy Home Loans. Book Now!
www.homewise.co.in/Mahagun-Mywoods

New Delhi, May 1:  

Car-makers have started the new fiscal mostly on a flat note, though some managed to create a buzz with new launches.
Sluggishness in the economy, high interest rates and costly fuel dampened demand for passenger vehicles. Nine top manufacturers together sold 191,252 units in April compared with the 205,811 units sold in April 2012.
The country’s top car-maker Maruti Suzuki, which reported its highest ever quarterly profit earlier last week, registered a nominal sales increase of 0.3 per cent, selling 90,523 units in April.
The company's total (domestic plus exports) sales declined by 3 per cent to 97,302 units during the month compared with 1,00,415 units in April in 2012. Maruti’s exports declined 33 per cent to 6,779 units in April (10,160 units).
The second largest passenger car manufacturer Hyundai Motor India’s domestic sales declined 7.6 per cent to 32,403 units in April against 35,070 units in the same month last year. However, its exports were up 26 per cent at 24,551 units.
“Exports have shown good growth on account of strong demand from non-European markets while the domestic market continues to witness pressure,” said Rakesh Srivastava, Senior Vice-President, Sales and Marketing.
Tata Motors reported a decline of 14.85 per cent in its total sales at 51,160 units. The company had sold 60,086 units in April 2012. Mahindra & Mahindra recorded a growth of two per cent at 41,432 units against 40,715 units during April 2012.
Honda Cars sold 8,488 units last month against 7,075 units in April 2012, most of the sales coming from Amaze sedan (4,852 units) that was launched last month.
Led by its flagship sports utility vehicle Duster, Renault India sold 6,314 units compared with just 615 units in April 2012.
Ford India’s total sales declined 24.03 per cent at 7,270 units compared with 9,569 units in the same month last year.
ronendrasingh.s@thehindu.co.in

(This article was published in the Business Line print edition dated May 2, 2013) 

Arvind Kumar Pathak

PGDM 2nd