Business News | Mahindra, Kia Lead July Auto Sales Growth as Industry Performance Remains Uneven
Get latest articles and stories on Business at LatestLY. Mahindra & Mahindra and Kia India posted some of the strongest sales growth among major passenger vehicle makers in July, while Toyota Kirloskar Motor reported a more modest increase, highlighting uneven growth across the segment even as market leader Maruti Suzuki recorded its highest-ever domestic monthly sales.
New Delhi [India], August 1 (ANI): Mahindra & Mahindra and Kia India posted some of the strongest sales growth among major passenger vehicle makers in July, while Toyota Kirloskar Motor reported a more modest increase, highlighting uneven growth across the segment even as market leader Maruti Suzuki recorded its highest-ever domestic monthly sales.
Mahindra reported a 26 per cent year-on-year increase in overall vehicle sales, including exports, to 1,03,860 units in July. Domestic SUV sales rose 20 per cent to 60,048 units, while domestic commercial vehicle sales increased 23 per cent to 25,204 units, reflecting broad-based demand across its portfolio.
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"In July we achieved SUV sales of 60048 units delivering growth of 20 per cent. The total vehicle sales stood at 103860, a 26% YoY growth reflecting all-round demand traction across the portfolio," said Nalinikanth Gollagunta, CEO, Automotive Division, Mahindra & Mahindra.
Kia India also reported strong momentum, with wholesale dispatches rising 27.4 per cent year-on-year to 28,200 units, its best-ever July sales since entering the Indian market. The company said sustained demand for the Seltos and Sonet, along with the Carens Clavis and the refreshed Syros, supported the growth.
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"Our best-ever July wholesale performance reflects the continued trust of our customers and the strong acceptance of Kia's diverse product portfolio," said Atul Sood, Senior Vice President - Sales & Marketing, Kia India.
Maruti Suzuki, India's largest carmaker, reported record domestic sales of 200,123 units in July, while total sales, including exports and sales to other OEMs, stood at 241,421 units. Domestic passenger vehicle sales rose to 196,203 units, while utility vehicle sales increased to 78,851 units from 52,773 units a year ago.
In contrast, Toyota Kirloskar Motor reported a relatively modest 5 per cent increase in domestic sales to 30,516 units in July.
"We registered a steady performance in July, reflecting sustained customer confidence in the Toyota brand," said Sabari Manohar, Executive Vice President, Sales-Service-Used Car Business, Toyota Kirloskar Motor.
Mahindra's July numbers also pointed to continued strength in the rural economy. Its Farm Equipment Business sold 34,420 tractors, up 20 per cent from a year earlier. The company attributed the growth to improved rainfall, better reservoir levels, faster kharif sowing and healthy farm cash flows.
"Significant recovery in rainfall, improved reservoir levels, accelerated kharif sowing aided by Government support and healthy farm cashflows has led to positive rural & farmer sentiment," said Veejay Nakra, President, Farm Equipment Business, Mahindra & Mahindra.
Separately, the two-wheeler segment also reported healthy July sales, although growth rates varied across manufacturers. Royal Enfield posted a 34 per cent increase in total motorcycle sales to 1,18,232 units, while Honda Motorcycle & Scooter India reported a 5 per cent rise in total sales to 5.42 lakh units, supported by a 35 per cent jump in exports even as domestic sales grew 2 per cent.
The July sales releases also underscored the industry's increasing focus on electric mobility, with companies including Kia and Royal Enfield highlighting strong customer response to newly launched electric models. However, none of the automakers disclosed separate monthly EV sales figures in their July sales updates. (ANI)
(The above story is verified and authored by ANI staff, ANI is South Asia's leading multimedia news agency with over 100 bureaus in India, South Asia and across the globe. ANI brings the latest news on Politics and Current Affairs in India & around the World, Sports, Health, Fitness, Entertainment, & News. The views appearing in the above post do not reflect the opinions of LatestLY)