Indian auto firms report healthy sales

Major auto companies in India on Thursday reported an average to healthy sales numbers for February, indicating a gradual recovery for the industry that was subdued by high interest rates and rising petrol prices. Mahindra & Mahindra reported a 29.09 per cent increase in sales for the month under review at 43,087 units from 33,378 units sold in the corresponding month last year. Domestic market sales grew by a 26.57 per cent at 40,461 units during the month under review from 31,967 units in Febuaray, 2011. Exports zoomed by 86.11 per cent at 2,626 units last month from 1,411 units sold overseas in the corresponding period of last year. Tata Motors too reported good sales numbers for the month with a 19 per cent rise in sales, including exports at 92,119 units. It had sold 77,543 units in the like period of 2011. Domestic sales for the month under review rose 19 per cent at 86,704 units from 73,039 units sold in the corresponding month of last year. Exports of 5,415 vehicles were higher by 20 per cent compared to 4,504 vehicles in February last year. Segment-wise, the company reported an increase of 26 per cent in domestic sales of commercial vehicles, which stood at 51,872 units from 41,130 units sold in February last year. Domestic passenger car sales of Tata Motors and distribution offtake of Fiat cars in India grew by eight per cent at 36,536 units from 33,751 units in the corresponding period of last year. Sales of Tata Nanos were 9,217 units, higher by 12 per cent compared to 8,262 units in February last year. Passenger car maker Maruti Suzuki also reported a slow but steady increase of 6.5 per cent in its monthly sales for February at 118,949 units from 111,645 units in the like period of 2011. Domestic sales, which grew at a snail’s pace in January at 0.6 per cent, were up 6 per cent at 107,653 units from 101,543 units in the corresponding month of last year. The exports during the month grew by 11.8 per cent. The company shipped out 11,296 units from 10,102 units in February, 2011. The medium compact segment, which has best selling models like Swift, Estilo and Ritz, saw a 31.1 per cent rise in sales in the month under review at 27,899 units from 21,287 units in February, 2011. Sales of cars such as Dzire grew by 58.8 per cent at 15,068, while the SX4 in the sedan segment reported a 42.5 per cent drop in sales at 2,033 units. However, due to a fall in exports, Hyundai Motor’s February sales were down 0.3 per cent at 51,855 units. It sold 52,007 units in the like period of 2011. The largest passenger car exporter reported a sharp 22.3 per cent fall in exports as it shipped only 15,050 units, down from 19,378 it sold overseas in February 2011.