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Car companies in the fast lane

Car industry leader Maruti Suzuki India reported its highest annual sales, registering a growth of 13.3 per cent in 2007-08 over the previous fiscal, reports Deepak Joshi.

business Updated: Apr 01, 2008 21:45 IST
Deepak Joshi

The car industry continued to be on an upswing even as the two-wheeler market faced rough weather.

Car industry leader Maruti Suzuki India reported its highest annual sales, registering a growth of 13.3 per cent in 2007-08 over the previous fiscal. The company said it sold 7,64,842 vehicles in 2007-08 as against 6,74,924 units in the previous year.

However, in March car sales were down by 2.1 per cent at 70,296 units as against 71,772 units in the same month last year.

During the full fiscal year, domestic sales stood at 7,11,818 units as against 6,35,629 units, a growth of 12 per cent. Exports also recorded a quantum jump of 34.9 per cent at 53,024 units as compared to 39,295 units in the previous year.

Hyundai Motor India Ltd (HMIL) reported 66.4 per cent jump in total sales at 47,001 units in March as against 28,239 units in the same month last year. The company said its domestic sales grew by 52.3 per cent at 29,401 units as compared to 19,300 units in the same month a year ago. Exports recorded a 96.9 per cent jump at 17,600 units (8,939 units in the year-ago period).

However, Tata Motors sales in 2007-08 in the domestic market stood at 214,758 units, a decline of 5 per cent over the previous year. The cumulative sales of Indica were 135,642, a decline of 6 per cent over the previous year.

The Indigo family posted sales of 31,416, a decline of 8 per cent. Sumo and Safari sold 47,700, registering flat growth. Safari sales at 19,078 have been highest for any fiscal since launch and have grown by 21 per cent.

General Motors India has registered a record growth of 51 percent in sales in March 2008 as compared to the corresponding period last year. It has sold 6, 836 units in March (4,542 in the year-ago period), making it the highest-ever monthly sales figure achieved by GM India since its inception.

Mahindra & Mahindra said its sales grew an approximate 30 per cent in March ’08 with total sales of 2,31,355 vehicles as against 1,78,201 vehicles for the corresponding period last year. Total sales including exports in March ’08 numbered 24,682 as against 20,595 in the corresponding month last year.

Mahindra Renault sold 3068 units of India’s first wide body car, Logan, in March 2008. The company clocked total vehicles sales of 23,128 units in the domestic market as against 19,841 in the corresponding month last fiscal, a 16.6 per cent increase.

ŠkodaIndia achieved sales of 2,050 units in March — a 27.2 per cent growth YoY. The figure includes 702 units of the Škoda Fabia.

Honda Siel Cars India (HSCI) sold 8,895 units in March (8,487 units a year ago) — a growth of 4.8 per cent. Cumulative sales of the company during the Financial Year period April-Mar 2008 was 62,802 units (61,325 units in the year-ago period) — an increase of 2.4 per cent.

TVS Motor Company reported 8.7 per cent decline in total sales for the year ended March 31, at 117,045 units as against 128,207 units in the previous year. Sales for March stood at 60,908 units (73,239 units a year ago) — down by 16.83 per cent.

Hero Honda reported a 15.36 per cent jump in motorcycle sales in March at 3,20,594 units as against 2,77,915 last year. Total sales for 2007-08 was marginally up at 33,37,142 (33,36,756 units last year).

Honda Motorcycle and Scooter India (HMSI) reported 27 per cent growth in sales for the year ended March 31, at 9,07,207 units, compared to 7,15,286 units in the previous financial year.