India’s top 3 automakers report a big drop in sales in August

India’s top three carmakers–Maruti Suzuki, Hyundai and Tata Motors–reported a big drop in numbers due to costly loans and the high cost of fuel. Maruti Suzuki’s sales went down 16.8% from 92,674 units last year to 77,086 units in August. It marked the company’s third consecutive monthly drop in sales. Last July, sales went down 25% due to labor unrest at the facility in Manesar. Japan’s Suzuki Motors owns 54.2% of the company. Likewise, sales of Tata Motors’ ‘People’s Car’ plunged 85%, contributing to the company’s 33.25% decline in passenger vehicle sales. The company sold 16,829 units in the local market, against 25,212 in the same month last year. Sales of Hyundai Motor India also went down by 6.7% from 26,677 units in the month, from 28,601 units in August last year.
Other Indian automakers post smart gains
Other local automakers posted smart gains aided by price cuts and new launches. Honda Siel Cars India reported its highest-ever sales for August with a 25% increase over the year-ago period. It sold 6,907 units, against 5,518 units in the corresponding month last year. Toyota Kirlostar Motor and General Motors India both launched new models and posted gains. Toyota sold 11,693 units, an 83.8% jump driven by a strong demand for Innova, as well as its latest products Etios and Liva. General Motors India posted a 14% increase, with sales of 9,050 units, due to a robust response to its diesel version of Beat. Mahindra & Mahindra, India’s largest utility vehicles tractor maker reported a 31% increase, with sales of 35,756 units compared with 27,275 in the year-ago period. Volkswagen India sold 6,091 units, a 72% jump over the same month last year. Ford India said its overall sales rose by 9% to 8,914 units as a result of demand for the all new sedan Fiesta and compact car Figo. (September 2, 2011)