File photo of Maruti Suzuki's eVX. (Source: Maruti Suzuki/X)
2 years ago
Mar 01, 2024
Indian automakers are announcing their February sales figures on Friday.Auto dispatches to dealerships suggest the recovery in two-wheeler sales continued in February, led by mass segments. A double-digit growth in wholesales and stable demand at the retail level indicate sustained recovery.Passenger vehicle sales continued to be led by SUVs, despite declining orderbooks and higher discounts.
Maruti Suzuki India Ltd.'s dispatches rose 15% to 1.97 lakh units in February as exports jumped and utility vehicle sales maintained a healthy momentum.
Sales Snapshots (YoY):
Total domestic dispatches rose 9% to 1.69 lakh units.
Sales in mini and compact segment fell 15% to 86,409 units.
Tata Motors Ltd.'s total dispatches to dealerships rose 9% to 84,834 units in February with rise in passenger vehicle sales offsetting the decline in commercial vehicle dispatches.
Sales Highlights (YoY):
Passenger vehicle sales grew 19% to 51,321 units.
Electric passenger vehicle sales rose 30% to 6,923 units.
Total commercial vehicle sales fell 4% to 35,085 units.
Heavy commercial vehicle sales fell 15% to 10,091 units.
Small commercial cargo and pickup vehicle sales declined 4% to 13,701 units.
Mahindra & Mahindra Ltd.'s total sport utility vehicle dispatches to dealerships surged 40% to 42,401 units in February. The tractor sales fell as southern and western states faced stress due to erratic and deficient monsoon, the company said in an exchange filing.
"However, Rabi crop outlook is very good, with wheat crop likely to be a bumper crop," Hemant Sikka, president of farm equipment sector, said in statement.
Sales Highlights (YoY):
Sales of medium duty light commercial vehicles fell 8% to 15,779 units.
