- Wealth PMS
We bring you our monthly report on the automobile sales for the month of January, 2017. You can catch all the January Sales here. You can also find all the coverage in relation to the automobile sector here.
We continue to grow faster than the industry which is a testament to our strategy focused on product led innovation, delivering differentiated customer experience and busting the myth of Cost of Ownership. The industry continues to face short-term headwinds even as long-term outlook continues to be positive. The outlook is further strengthened by the government’s roadmap to boost rural economy, provide relief to personal income tax, and investment in further building the infrastructure. A timely implementation of GST is expected to make a significant positive impact on the economy while raising consumer sentiment in the months to come.
Here is what one of Hyundai’s executive had to say on the numerous entries in the Indian Car Market:
There are “multiple uncertainties” in the Indian market, which are limiting the capacity of companies to plan freely. The situation is so intense that “only a fortune-teller or an astrologer can predict”, which way the demand will be headed.
Hyundai also reported its 4Q financials. The parent company reported a 39% drop in its quarterly net profit. Hyundai continues to focus on discounting its products very heavily as it loses ground in all major markets. Hyundai India launched the Hyundai Professional Development Center at Pusa Institute of Technology, New Delhi. The tie-up aims to give exposure to Automobile trade students to modern automobile technologies.
Hyundai reported sales of 51,834 units in January, 2017 against 44,230 units during the same time last year resulting in a growth of 17.2%.
Mr. Rakesh Srivastava, Sr. Vice President – Sales & Marketing, HMIL, said:
Year 2017 looks promising with entire industry optimistically looking forward for a positive growth. Hyundai has shown all model growth of 17.2% on account of good performance by super performer brands Grand i10, Elite i20, Creta and without any new mass model launches. The Union budget will give boost to economy especially rural with focus on infrastructure creating a robust business environment thus helping auto industry and positively contribute to National GDP.
Honda will mark its entry in the sub 4 metre segment with the launch of the WR-V from March, 2017. The production of the model has already begun in the company’s plant at Tapukara in Rajasthan.
Honda reported sales of 16,574 units against 17,135 units resulting in a drop of 3.3%. YTD sales drop stood at 21.7%.
Out of 15,592 units, the largest selling car of Honda is City at 6,355 units followed by Amaze which sold 3,911 units, 627 units of Brio and 3,124 units of Jazz. While in the Utility vehicle segment, the company has together sold 1,575 unit including BR-V, Mobilio and CRV.
Yoichiro Ueno, President and CEO, Honda Cars India said:
HCIL sales results recovered this month as the consumer sentiment and currency situation has started improving gradually. We hope the situation normalizes and market recovers quickly.
Maruti Suzuki January Sales Growth At 27.1%, Super Compact Sales Contracts 15%
M&M Farm Equipment Exports Jump 70.9%, Domestic Sales Grows By 374 Units
Mahindra & Mahindra Exports Drop 27%, Utility Vehicles Sales Down 8.6%
Tata Motors Sales Contracts 1.5%, Tiago Continues To Receives Positive Response
Overwhelming Response To The New Fortuner Drives Toyota India Sales, Reports Growth At 21.6%
Here is Vinod Aggarwal, MD & CEO of Volvo-Eicher Commercial Vehicles sharing his views on the CV industry:
VECV reported sales of 4,048 units in January, 2017 against 5,063 units during the same time last year resulting in a contraction of 20%.
Note: Sales numbers presented here are manufacturer reported sales numbers i.e. factory dispatches to dealerships. They are NOT retail sales figures to end customers.
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