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SIAM sales data: Automobile volumes grow 10% in February

Robust demand for models like Hyundai Venue, Nissan Magnite, Tata Nexon, Hyundai Creta, Kia Sonet and Mahindra Thar saw the share of SUVs hit 40 percent, the highest-ever in a month.

March 10, 2021 / 03:57 PM IST
 
 
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Automobiles sales during February recorded a rise of 10.2 percent to 281,380 units against the same month in 2020, helped by sustained demand for two-wheelers and SUVs, data from SIAM show.

As per data shared by the Society of Indian Automobile Manufacturers (SIAM) passenger vehicles (cars, SUVs and vans) sales during February grew by 18 percent to 281,380 units while two-wheeler sales grew by 10 percent to 1.42 million units. These are wholesale numbers which represent a company's sales to their dealers.

Robust demand for models like Hyundai Venue, Nissan Magnite, Tata Nexon, Hyundai Creta, Kia Sonet and Mahindra Thar saw the share of SUVs hit 40 percent, the highest-ever in a month, in the PV segment, recording a growth of 45.3 percent during February. Cars grew by only 4.4 percent during the reporting month.

Constrained by supplies Maruti Suzuki’s sales grew 8 percent while that of Hyundai grew by 29 percent. Tata Motors continued to outpace every company reporting a growth of 119 percent while Mahindra & Mahindra sales grew by 41 percent during February.

Rajesh Menon, Director General - SIAM, said, “Supply chain challenges including rising price of steel, unavailability of semiconductors and higher container charges, continue to be obstacles in smooth functioning of the industry.”

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As for two-wheelers, motorcycles continued to dominate the growth story posting an 11.4 percent increase in volumes whereas the scooter segment grew by 10 percent during the same month. The February growth in sales was led by Honda Motorcycle and Scooter India and TVS Motor Company while Hero MotoCorp and Bajaj Auto grew 1 percent each.

Retail sales data or those which are actually bought by customers from the dealers, shared by the Federation of Automobile Dealers Association (FADA) show an 11 percent growth in volumes of PV while two-wheelers sales report a drop of 16 percent. This data does not have sales from four Indian states.
Moneycontrol News
first published: Mar 10, 2021 03:57 pm

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