Auto sales up on rising demand for SUVs
Automakers led by Maruti Suzuki India, Hyundai, Mahindra & Mahindra, Toyota Kirloskar Motor on Thursday reported robust wholesales of passenger vehicles in the domestic market in May riding on strong demand for SUVs.
Other manufacturers such as Tata Motors, Kia and MG Motor India also reported increase in their dispatches to dealers during the month. Market leader Maruti Suzuki India (MSI) reported a 15 per cent rise in total domestic passenger vehicle sales at 1,43,708 units as compared with 1,24,474 units in the same month last year. The company’s sales of mini cars, comprising Alto and S-Presso, fell 30 per cent to 12,236 units as compared with 17,408 units in the year-ago period, while compact cars sales, including models such as Swift, Celerio, Ignis, Baleno and Dzire, increased 5 per cent to 71,419 units as against 67,947 units in May 2022.
Rival Hyundai Motor India Ltd said its domestic sales grew 14.91 per cent at 48,601 units as compared to 42,293 units in the year-ago month. HMIL COO Tarun Garg said the company’s double-digit sales growth in May was fuelled by its SUVs Creta and Venue. The recently launched all-new Verna sedan also received good response, he added.
Tata Motors, however, had a moderate domestic passenger vehicle sales growth at 6 per cent posting 45,878 units last month as compared to 43,341 units in May last year. Sales of passenger electric vehicles, including international business, were at 5,805 units as against 3,505 units in the same month a year ago, a growth of 66 per cent, the company said in a statement.
