[ad_1]
New Delhi:
Some had reasons to cheer, and others not quite, in the domestic auto industry for the month that’s gone by. Two of the top three passenger vehicle OEMs, Maruti Suzuki and Hyundai, saw a dip in volumes during November. Maruti Suzuki’s sales of 1.09 lakh units in the domestic market last month is 19% lower than the 1.35 lakh units sold during November 2020. Hyundai’s volumes fell 24% y-o-y to 37,001 units during last month. Number three player Tata Motors continues its turnaround drive with a 38% y-o-y rise to 29,778 units.Of the numbers available so far, Toyota and Nissan reported growth in November, while another Japanese major Honda saw a decline in sales. Toyota’s growth stood at 53% (13,003 units) , while Nissan saw its Magnite SUV solely drive the OEM’s volumes up by 160% (2651 units) on a small base. Honda reported sales of 5457 units, a 45% drop from 9990 units in November 2020. MG Motor India also saw a fall in sales, of 40%, during November, at 2481 units. Mahindra & Mahindra on the other hand saw its sales grow by 7% to 19,458 units.
On the commercial vehicle side, market leader Tata Motors’ volumes climbed 15% to 32245 units while the number two player Ashok Leyland saw a 4% dip in overall volumes to 9364 units. Its M&HCV volumes, an indicator of infrastructure activities, grew by 5% to 4661 units.
The performance of the CV sector reflects the economy’s recovery even as there are some growing concerns around the Coronavirus pandemic. The overall demand in the PV market remains good, though the ongoing semiconductor crisis hampers sales prospects of industry players.
Also Read:
[ad_2]
Source link