Passenger car sales numbers for February 2009 appear to have bucked all slowdown trends. Data released by Maruti Suzuki (MSIL), Hyundai Motors India (HMIL) and Mahindra & Mahindra (M&M) depict a quantum leap on both exports and domestic sales fronts during February 2009. While MSIL achieved its highest-ever domestic sales and exports in any single month, Hyundai recorded a 45.3% growth in domestic sales. M&M saw its growth numbers touch 21.6%.
In February 2009, MSIL sold 70,625 vehicles in the domestic market, which was up 19.1% over the earlier corresponding period. The previous highest monthly domestic sales were 67,005 units, recorded during January 2009.
“Led by A-star in February 2009, MSIL exported 8,565 units. This is higher than the previous highest export sales of 8,282 units recorded in March 2004. This month, the company also outstripped the cumulative export sales recorded during fiscal 2008-09,” said an MSIL official.
In all, the company sold 79,190 vehicles in February 2009. This was up 24.1% over the corresponding month last fiscal. The previous highest total sales was registered in January 2009 at 71,779 units.
“Growth has been fuelled by factors including an increase in liquidity after the stimulus packages, cut in interest rates and excise as well a softening of fuel prices.
Additionally, MSIL's strategies including a thrust on rural India and focus on government employees have helped sales figure.
We registered a positive growth figure during January, hence it can be assumed that there is a growth that may stay,” said Mr Mayank, Pareekh, executive officer – marketing and sales.
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In February 2009, HMIL registered a 45.3% growth in domestic sales. While cumulative sales increased by 31.9% over February, 2008 and exports by 18.3%. HMIL’s total sales for February, 2009 stood at 38,254 units against 29,001 units of February, 2008.
Domestic market for HMIL accounted for 21,215 units (14,600 units) while exports totaled 17,039 units in February, 2009, against 14,401 units of February, 2008.
But Mr Arvind Saxena, senior vice president (marketing & sales), HMIL, has a different take. “While January 2009 sales growth for both industry and HMIL was negative, February 2009 sales saw a slight upturn with double-digit growth for the industry.
But the overall market situation continues to be challenging and not much should be read into the February growth since last year during February the budget was to be announced and a substantial amount of sales were deferred till March. We expect a fairly flat sales growth curve for the industry for the quarter ending March, 2009”.
“Our sales figures this month have been bolstered by impressive numbers for all M&M products, which registered a 21.6% growth. The XYLO, which launched in January 2009, is doing especially well with sales of 2287 units in February 2009,” said Mr Rajesh Jejurikar, chief of operations (automotive sector) at M&M.
M&M's total volumes in the auto sector (including joint ventures) for February 2009 stood at 19594 units (18379 units). The company sold a total of 19894 vehicles during the month against 19674 vehicles in the previous corresponding period. M&M exported 300 units in February 2009, as against 1295 units exported in February 2008.
Source: The Economic Times |
