Mumbai: Indian automakers reported a surge in their monthly sales for September fueled by festive fervor, according to the filings with the stock exchanges by these companies.
“September was a very exciting month with a strong start to the festive season,” Veejay Nakra, president of the automotive division of Mahindra & Mahindra, said on Monday.
“We are delighted that our SUVs (sports utility vehicles) have registered the highest ever sales of 34,262 vehicles as well as highest ever overall volumes of 64,486 vehicles for September,” he said.
South Korean carmaker Hyundai’s Indian subsidiary reported a 50.2-percent rise in September domestic sales at 49,700 units from the same month last year.
“With the excellent resilience shown by the Indian economy over the last few quarters, the festive season has further fueled the demand momentum,” said Tarun Garg, director for sales, marketing & service of Hyundai Motor India Ltd.
India’s largest car manufacturer Maruti Suzuki reported domestic sales volume of 148,380 units last month under review compared to 63,111 units in September last year.
“It is the second best month for the company in 42 months” since October 2020 when it sold 163,000 units in the domestic market, said Shashank Srivastava, senior executive director for marketing and sales of Maruti Suzuki.
New launches, preference for personal mobility and replacement demand are all driving strong bookings for passenger vehicles, particularly in the SUV segment, which is seeing upgrade-related purchases, said Kripashankar Maurya, auto analyst with domestic stock brokerage firm Choice Broking.
(Vinayak)
