The Indian automobile industry is one of the few sectors which are showing signs of quick recovery from COVID-19 pandemic. The last 3-4 months have shown an increase in demand for cars. Most of the automakers have recorded positive growth in February 2021. MSIL and Hyundai, the two largest carmakers of India have also registered impressive growth.
Maruti Suzuki – 8.3% Growth
Maruti Suzuki has recorded a positive growth of 11.8 percent. The company recorded a cumulative sales of 1,64,469 units in February 2021 as against the 1,47,110 in February 2020. MSIL export increased by 11.9%, while the total domestic sales is up by 11.8%. The domestic sales include units delivered to Toyota Motor Corporation. MSIL domestic sales stand at 1,52,983 units in February 2021 as against 1,36,849 units in February 2020.
Maruti Suzuki’s mini cars – Alto and S-Presso – recorded a negative growth of 12.9%. The compact car segment – WagonR, Swift, Celerio, Ignis, Baleno, Dzire and Tour S – grew by 15.3%. The Maruti Suzuki Ciaz sales down by 40.6%, While Eeco sales grew by 5.9%. Maruti Suzuki UV sales increased by 18.9%. The company sold 26,884 UVs in February 2021 as against 22,604 units in February 2020.
Hyundai – 28.68% Growth
Hyundai Motor India is growing at a very fast pace, thanks to the new Creta and the Venue. The company’s domestic wholesales is reported at 51,600 units in February 2021, which is 28.68% higher. In the same month last year, Hyundai sold 40,100 units in India. Hyundai exports are up by 14.61% to 10,200 units as against 8,900 in the same month last year.
Hyundai will aim to further boost sales by introducing the Alcazar 7-seater SUV in the country. It is basically the 7-seater version of the Creta SUV, which has been caught testing multiple times in India. The Hyundai Alcazar will rival the Mahindra XUV500, MG Hector Plus and the Tata Safari.
