Analysts tracking the sector said that they expect auto sales to be strong in the second half of the financial year
Auto sales, a key indicator of the macroeconomy, showed significant growth in July, with passenger vehicle volumes improving on the back of a healthy order book and an uptick in enquiries and bookings in urban and rural areas. The wage revisions for government employees have also likely aided demand.
India’s largest carmaker, Maruti Suzuki, posted total sales of 162,462 units in July 2021 as against 108,064 units during the same period last year, registering a 50 per cent growth. The company’s total sales in the month include domestic sales of 136,500 units, sales of 4,738 units to other Original Equipment Manufacturers (OEMs), and 21,224 units for exports.
Maruti said that domestic sales in July remained lower than the previous high recorded during the same month in 2018-2019 owing to the pocket lockdowns in different parts of the country. The company said that it is witnessing an encouraging revival in demand after a slowdown due to the impact of the second wave.
“With fast unlocking happening across the country, we are witnessing a good recovery, and in July we have seen a pickup in inquiry that is roughly 85 per cent of Q1 of the last financial year,” said Shashank Srivastava, senior executive director, marketing and sales at Maruti Suzuki.
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