New Delhi: Increasing spending power and excitement created by model launches helped major automakers report robust growth in August sales Wednesday with market leader Maruti Suzuki witnessing best ever monthly dispatches.Automobile sales, which are usually down in the rainy season, continued to cruise with major firms, including Hyundai, Tata Motors and Hero Honda posting healthy sales in August, due to increased consumer confidence on the booming economy.
During the month, Maruti Suzuki posted its highest ever monthly sales at 1,04,791 units, a 23.56 percent increase from 84,808 units in August 2009.
The company also posted its best figure so far for the domestic market at 92,674 units, a 32.47 percent increase from 69,961 units in August 2009.
"With economic activities going strong, consumers' spending powers have increased. It has helped boosting auto sales," IDFC securities director (research) Ramnath S said.
New models by the companies have also created excitement in the market and many of these have witnessed long-waiting periods for delivery, he added.
The country's second largest carmaker Hyundai Motor India also reported 17.21 percent jump in its domestic sales at 28,601 units as against 24,401 units in August 2009.
Commenting on the sales, Hyundai Motor India director
(marketing and sales) Arvind Saxena said the market continues to be positive and the company expects the trend to continue with the onset of the festive season.
Homegrown auto major Tata Motors reported a 45.10 percent increase in its domestic passenger vehicle sales at 25,196 units compared to 17,364 units in the year-ago month.
Another manufacturer Mahindra & Mahindra's sales in domestic market jumped by 27.39 percent last month at 27,275 units as against 21,410 units in the same month last year.
Carmaker General Motors India saw its sales climbing 33.71 percent to 7,941 units in August compared to 5,939 units in the same month last year. Honda Siel Cars' sales stood at 5,532 units, registering 38.75 percent jump over 3,987 units in the corresponding month last year.
Another auto maker Toyota Kirloskar Motor reported 26.09 percent jump in its sales at 6,361 units compared to 5,045 units in the corresponding month last year.
Ramnath said the growth momentum is expected to continue in future up to the festive season.
"There is a spill-over of demand... The festive season will be very good this time," he added.
On the two-wheelers front, market leader Hero Honda reported a jump of 2.28 percent in its sales at 4,24,617 units in August 2010 against 4,15,137 units in the same month last year. It was the 4th consecutive time, the company posted over four lakh dispatch sales in a single month.
Chennai-based TVS Motor Company's two-wheeler sales in last month grew 31.75 percent to 1,67,109 units from 1,26,842 units in August 2009.
Another two-wheeler maker India Yamaha Motor reported 29.76 percent increase in its total sales at 30,450 units. It had sold 23,466 units in the same month last year. Suzuki Motorcycle India's sales jumped 50.78 per cent to 19,314 units from 12,809 units in August last year.
