New Delhi: India’s major automobile players reported a sequential uptrend in June, as the rate of sales de-growth decelerated.
Accordingly, two-wheelers and tractors off-take on a sequential basis in June showed narrowing of the de-growth rate. However, analysts said that the industry is still reeling under the impact of the Covid-19 outbreak.
On a company specific basis, automobile major Maruti Suzuki reported a year-on-year decline of 54 per cent in total sales in June 2020. The company’s total off-take declined to 57,428 units from 1,24,708 units sold in June 2019.
The total sales included 52,300 units off-take in the domestic market and of 839 units to other OEMs. Exports during the period under review fell to 4,289 units from 9,847 units shipped out in June 2019.
Another automobile major, Hyundai Motor India, reported cumulative sales of 26,820 units in June 2020, of which, domestic sales accounted for 21,320 units and exports another 5,500 units.
Mahindra & Mahindra reported a decline of 55 per cent in its total vehicle sales in June 2020. The company’s total sales declined to 19,358 units from 42,547 units sold during the like period of the previous year.
Commenting on the sales performance, Veejay Nakra, Chief Executive Officer, Automotive Division, M&M, said: “The automotive industry has started t o see recovery both in the passenger and small commercial vehicle segments. T his has been led primarily by rising rural demand and movement of essential goods across the country.”