Continued Momentum in the Domestic Car Market

Domestic passenger car sales grew 35 percent this month to 4.5 lakh units. The growth was supported by higher sales from Maruti Suzuki, Tata Motors Passenger Vehicles, Mahindra & Mahindra and Kia. Maruti Suzuki India Senior Executive Officer for Marketing and Sales, Partho Banerjee, said the automotive industry continues to benefit from the momentum created by last year’s GST rate cut, income-tax benefits and repo-rate reduction. He added that the industry is entering the festive season with optimism.

Among passenger vehicle makers, Mahindra recorded 42 percent growth, Tata Motors PV 56 percent, Maruti Suzuki 21.3 percent and Hyundai Motor 8.8 percent this month. In the two-wheeler segment, Honda Motorcycle recorded 8 percent growth, Bajaj Auto 28 percent, TVS Motor 21 percent, Suzuki Motorcycle 6 percent and Royal Enfield 11 percent. Commercial vehicle makers, including Tata Motors and Ashok Leyland, also posted strong growth during the month.