India’s major automobile manufacturers have started reporting a rebound in August sales, according to figures released so far as of Wednesday, September 2.
Though the industry’s aggregate sales figures are not yet available, the country’s largest passenger car manufacturer by market share, Maruti Suzuki India Limited (MSIL), reported sales of 116,704 units in August this year, up 20 percent over the corresponding month of the previous year.
The second-largest passenger car manufacturer Hyundai India Limited reported sales of 45,809 units during the month, also up 20 percent over the corresponding month of the previous year.
Kia Motors Limited, an affiliate of Hyundai India, reported sales of 10,853 units, up 74 percent year on year.
Passenger car and utility vehicle manufacturer Mahindra and Mahindra Limited reported sales of 13,651 units, up one percent year on year.
The only outlier to the positive August growth was Honda Motors Limited which reported sales of 7,509 units, down nine percent year on year.
According to rating and financial services agency ICRA, the rebound in August sales was largely the result of the uptick in rural demand and inventory restocking by automobile dealers.
It may be noted that automobile manufacturers consider dispatches to dealers as sales on their books.