Competitors surge ahead of Maruti as auto industry keeps up growth

Competitors surge ahead of Maruti as auto industry keeps up growth

Submitted by alvin on Fri, 2016-07-01 20:40 Chennai/Bengaluru: Major players in the Indian automotive industry barring car maker Maruti Suzuki India Ltd closed last month on a positive note as compared to corresponding period in the previous year. They are also pinning their hopes of doing well in the coming months on the implementation of the Seventh Pay Commission report recommendations for the central government employees, a normal monsoon and a favourable ruling from the Supreme Court in respect of high-powered diesel engines. "Better monsoon, positive customer sentiments and Seventh Pay Commission bonanza should help auto industry to perform much better than last fiscal year, possible GST (Goods and Services Tax) roll out and resolution on ban on large diesel vehicle will also help the auto industry in keeping the growth momentum," said Abdul Majeed, Partner and automotive sector expert at Price Waterhouse. India's second largest car maker Hyundai Motor India Ltd said it sold 39,806 units in the domestic market last month as against 36,300 units sold during June 2015. Including exports, Hyundai Motor sold 55,713 units last month up from 52,062 units sold in June last year. On the other hand, the country's largest car maker Maurti Suzuki logged a negative growth of 13.9 per cent in sales volume selling 98,840 units down from 114,756 units sold in the same month last year. The company recorded domestic sales of 92,133 vehicles and exports of 6,707 in June 2016 as against 102,626 and 12,130, respectively, in June 2015, said a Maruti Suzuki statement. The production last month was affected due to fire at Subros, a key vendor, the statement said. Barring the utility vehicle models like Ertiga, Gypsy, S-Cross, Vitara Brezza, Maruti Suzuki logged negative sales last month. Mahindra