October has ended, the numbers are in and they do not tell a very good story for the Indian Automobile industry except for Maruti Suzuki and Toyota. The month which was predicted to be very generous for the automobile sector due to the festive season did not end as anticipated. Maruti Suzuki India and Toyota were the only two companies that registered a growth this month while the rest of the automobile companies struggled to bring in numbers.
Maruti Suzuki and Toyota are the only two companies that saw growth:
Maruti Suzuki India saw a growth of 9% as it sold 1,36,000 units in October 2017 as opposed to 1,23,000 units in October 2016. Along with Maruti Suzuki, Toyota was the only manufacturer that saw a growth in sales as it sold 12,413 units in October this year. Toyota only managed 11,651 in the same period last year.
The Maruti Suzuki numbers are hugely a courtesy of the new models launched by the company in recent months that are still fresh in the customer’s eye. The update Maruti Suzuki Dzire and the Ignis have successfully made a place in the heart of the buyer. Recently Maruti Suzuki Dzire became the highest selling car in India.
Hyundai, Honda see a decline in sales while Tata and Royal Enfield remained stagnant:
Hyundai and Honda do not seem to know the magic trick that Maruti Suzuki India has up its sleeve. The numbers of Honda and Hyundai saw a marginal decline as opposed to October last year. Honda India blamed the GST and additional cess implementation as well as some supply issues for some components as the reason for the decline in the sales of the company. The Maruti Suzuki Vitara Brezza chief rival Ford Ecosport is all set to launch in November but the American Company has also announced a decrease in demand in their cars. Royal Enfield numbers remained largely undisrupted.
October numbers are very important to car manufactures like Maruti Suzuki this year as the main festive season of Diwali could not manage to increase the demands as opposed to last year in India.
Source: Business Today