Passenger vehicle sales see slow growth in June as high base effect kicks in

Passenger vehicle sales see slow growth in June as high base effect kicks in

Passenger vehicle wholesales in June witnessed a marginal growth of 4% due to subdued demand caused by intense heat in many parts of the country and high base effect.

Total passenger vehicle dispatches last month stood at 3,40,784 units, up 3.67% as compared to 3,28,710 units in June 2023.

Market leader Maruti Suzuki India said its total domestic passenger vehicle sales last month stood at 1,37,160 units as against 1,33,027 units in the same month a year ago, a growth of 3%.

Sales of mini-segment cars, including Alto and S-Presso, declined to 9,395 units from 14,054 units in June 2023. Sales of compact cars, including Baleno, Celerio, Dzire, Ignis, Swift, Tour S and WagonR, stood at 64,049 units as against 64,471 units in the year-ago month.

Sales of utility vehicles such as Brezza, Grand Vitara, Ertiga and XL6 stood at 52,373 units last month as against 43,404 units sold in the same month a year ago. Partho Banerjee, senior executive officer (marketing and sales), Maruti Suzuki India, said the company currently has 37-38 days of network stock across the country.

Rival Hyundai Motor India said its domestic sales remained stable at 50,103 units last month as against 50,001 units in the same period a year ago.

Tata Motors said passenger vehicle sales, including electric vehicles, in the domestic market declined 8% to 43,624 units in June as against 47,359 units in the same month a year ago.

After a surge in demand in the first fortnight of April due to festivals in some parts of the country, the passenger vehicle industry witnessed a decline in retail sales. [registrations] “We are considering this being impacted by the general elections and heat waves across the country in the months of May and June,” said Shailesh Chandra, Managing Director, Tata Motors Passenger Vehicles.

Going forward, the company expects demand to improve as inquiries remain robust despite retail sales being subdued in the last two months, he added.

Chandra said the strong enquiry pipeline apart from the onset of the festive season from August augurs well for the industry.

Mahindra & Mahindra said its passenger vehicle sales in the domestic market grew 23% to 40,022 units last month as against 32,588 units in June last year.

Toyota Kirloskar Motor recorded its best ever monthly sales with 27,474 units sold in June. The company's total dispatches to dealers grew 40% to 27,474 units last month as against 19,608 units in June 2023.

JSW MG Motor India reported a 9% decline in retail sales in June at 4,644 units as compared to the same period last year. The automaker had retailed 5,125 units in June 2023.

In the two-wheeler segment, Bajaj Auto said its total domestic sales grew 8% to 2,16,451 units last month as against 1,99,983 units sold in the same month last year.

TVS Motor Company said its domestic two-wheeler wholesales grew 8% year-on-year to 2,55,734 units in June 2024 from 2,35,833 units in June 2023. Suzuki Motorcycle India reported a 13% year-on-year growth in domestic sales to 71,086 units in June.

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