The auto industry continues to face the heat of the economic slowdown that has affected the sector for nearly ten months. The sales reports of August 2019 saw a major drop in volumes with major players including Maruti Suzuki, Tata Motors and Hyundai reporting a drop of 34.4%, 58% and 16.58% respectively in their sales for the month.
The top six manufacturers dispatched a total of 171,193 vehicles to dealerships in August this year, registering a 34% drop in volumes, when compared to the 259,925 vehicles that were dispatched in August last year.
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Meanwhile, top two-wheeler makers Hero and Bajaj have registered a plunge of 20% and 13% respectively in sales.
However, TVS Motor Company registered sales of 290,455 units in August 2019 as against sales of 279,465 in July 2019, and 343,217 units in the month of August 2018.
Two-Wheeler
Total two-wheeler registered sales of 275,851 units in August 2019 as against sales of 330,076 units in the month of August 2018. Domestic two-wheeler registered sales of 219, 528 units in August 2019 as against sales of 275,688 units in the month of August 2018.
Total motorcycle sales of the company registered 109,393 units in August 2019 as against sales of 131,743 units in August 2018. Total scooter sales of the Company registered 109,272 units in August 2019 as against sales of 126,676 units in August 2018.
Exports
The Company’s total exports grew by 6% increasing from 66,028 units in August 2018 to 69,702 units in August 2019. Two-wheeler exports grew by 4% increasing from 54,388 units in August 2018 to 56,323 units in August 2019.
Three-Wheeler
Three-wheeler sales of the company grew by 11% increasing from 13,141 units in August 2018 to 14,604 units registered in August 2019.
(With ANI inputs)