Carmakers end FY15 on a positive note

Tribune News Service

New Delhi, April 1

Even as major carmakers reported a fall in sales in March, a majority of them closed the financial year with a healthy growth rate.

Maruti Suzuki India Ltd reported a marginal 1.6% decline in its total sales for March at 1,11,555 units as against 1,13,350 units in the same month a year ago. The company’s domestic sales increased by 1.4% during the month to 1,03,719 units as against 1,02,269 units in March 2014.

Hyundai Motor reported a 3.8% decline in total sales at 49,740 units in March. The company had sold 51,708 units in the same month last year.

In the domestic market, it sold 39,525 units last month as compared to 35,003 units in March 2014, up 12.9%. However, the company’s exports declined by 38.9% to 10,215 units as against 16,705 units in the same period last year.

General Motors India also reported 35.5% decline in sales at 4,257 units in March as against 6,601 units in the same month last year.

However, despite this fall in sales in the last month of the financial year, automobile manufacturers closed 2014-15 on a positive note.

Total sales of MSIL grew by 11.9% in 2014-15 and stood at 12,92,415 units from 11,55,041 units sold in the previous fiscal.

Exports during the period under review zoomed 20.1% at 1,21,713 units from 1,01,352 units in 2013-14. Hyundai’s overall sales, including exports, grew by 10.62% and stood at 4,20,668 units from 380,253 units sold in the previous fiscal. The company also achieved the highest-ever yearly sales of 4,20,668 units.

Toyota registered a growth of 62% in the month of March. It sold 13,333 units in March 2015 in the domestic market as compared to 8,206 units in March 2014. Honda registered its highest ever monthly domestic sales of 22,696 units during March 2015 and registered a growth of over 23% as compared to 18,426 units in March 2014.