Leading automakers Maruti Suzuki India (MSI), Hyundai Motor India reported record annual sales for the fiscal ended March 31, driven by new models and robust demand for existing products.
Tata Motors, Renault and Nissan India also posted sales growth in FY2016-17.
For the 2016-17 fiscal, MSI posted a 9.8% jump in total sales at 15,68,603 units, against 14,29,248 vehicles in 2015-16.
The company’s domestic sales rose 10.7% at 14,44,541 units during the last fiscal compared to 13,05,351 in the previous financial year.
“Demand for our products remained strong throughout the year enabling us to close 2016-17 with 10.7% domestic growth and achieve faster than industry growth for the fifth year in a row,” MSI Executive Director Marketing & Sales RS Kalsi told PTI.
Alto, Dzire, Wagon R and Swift continue to remain the top sellers in the Indian market. NEXA has brought in new customers by redefining the car purchase and ownership experience, he added.
“We continue to see healthy orders for Brezza, Baleno and Ignis and our effort is to improve their availability to minimise wait time for customers,” Kalsi said.
Rival Hyundai Motor India sold 5,09,707 units in 2016-17 as against 4,84,324 units in the previous year, up 5.2%.
Commenting on the sales performance, HMIL Senior Vice President, Sales & Marketing, Rakesh Srivastava said the company was able to close the financial year with highest-ever sales creating a strong momentum for the next year.
Similarly, Nissan Motor India sold 57,315 units in the last fiscal as against 39,393 units in 2015-16, up 45%.
“We are delighted by the progress and the acceptance of our products and services by our customers,” Nissan India Operations President Guillaume Sicard said.
Tata Motors saw its sales grow 6% to 5,42,561 units during the just concluded financial year. It had retailed a total of 5,11,705 vehicles sold in 2015-16.
“The launch of the Hexa, Tiago AMT and Tigor has set new benchmarks in their respective segments signifying Tata Motors as one of the fastest growing manufacturers in India,” Tata Motors President Passenger Vehicles Business Unit Mayank Pareek said.
French car major Renault reported a growth of 88.4% selling 1,35,123 units during the 2016-17 fiscal as against 71,732 units in the preceding year.
In March, MSI’s domestic sales increased 7.7% to 1,27,999 units as against 1,18,895 units in March 2016.
Sales of mini segment cars, including Alto and WagonR, declined 15.6% to 30,973 units from 36,678 units in the year-ago month.
The company said sales of the compact segment comprising Swift, Estilo, Dzire, Baleno and Ignis increased 29.7% to 60,699 units in March this year as against 46,786 units in the same month last year.
Sales of utility vehicles, including Ertiga, S-Cross and Vitara Brezza, rose 31.8% to 18,311 units in March this year from 13,894 units in the corresponding month last year.
Honda Cars India Ltd (HCIL) reported an 8.7% increase in domestic sales at 18,950 units in March.
The company had sold 17,430 units in the same month last year, HCIL said in a statement.
Similarly, Ford India saw its domestic sales increase by 15% to 8,700 units last month.
In the two wheeler segment, India Yamaha Motor reported a 27% increase in domestic sales at 76,144 units in March.
Niche bike maker Royal Enfield reported a 17% jump in total sales at 60,113 units in March.