The initial reading from sales tracker Autodata shows that a total of 1.05 million vehicles were sold in the month, up 5% from a year ago. July marked the second best sales rate since the economic meltdown in September 2008.
Final numbers will likely show a seasonally-adjusted annual sales rate of about 12 million vehicles - an improvement from an annual rate of just over 11 million vehicles during the first half of the year.
As auto sales continue to zoom on, manufacturers can look forward to a happy festive season. Despite input price and interest rate increases, car, bike and truck makers posted their seventh straight monthly growth in July.
Most auto firms have registered high double-digit sales growth for the last month, encouraging the launch of new models.
Market leader Maruti Suzuki India recorded its highest monthly sales in the domestic market in July. And with the festival season about to start and good monsoon rains under way (helping rural sales), industry insiders and analysts expect automakers to retain the momentum for the rest of the year.
Auto sales continued to rise unabated in July on the back of easier financing opportunities, a slew of new smart car launches and refurbishments of existing models from Nissan, Fiat, Toyota and Hyundai.
Maruti Suzuki sold 1,00,857 units in July 2010, an increase of 29%, as compared to 78,074 cars in July 2009. ?This is the second time in this fiscal that the company?s monthly sales figure have crossed 1,00,000 units. Domestic sales in July 2010 are also the highest ever in a month,? Maruti Suzuki stated. The carmaker sold 90,114 cars in the domestic market and exported 10,743 cars during the period under review. The company is all set to launch Alto K10 later this week.
Hyundai Motor India returned to the number two slot, after being pipped by Tata Motors last month, by selling 50,411 units as against 45,539 units in July 2009, registering a 10.7% growth. The company sold 28,811 units in the domestic market and the rest was exported. ?The market continues to be positive and in the next quarter we expect the trend to continue, with the onset of the festive season,? Arvind Saxena, director for sales and marketing, Hyundai Motor India, said.
New Delhi: Auto sales continued to rise unabated in July on the back of easier financing opportunities, a slew of new smart car launches and refurbishments of existing models from Nissan, Fiat, Toyota and Hyundai.
Maruti Suzuki sold 1,00,857 units in July 2010, an increase of 29%, as compared to 78,074 cars in July 2009. ?This is the second time in this fiscal that the company?s monthly sales figure have crossed 1,00,000 units. Domestic sales in July 2010 are also the highest ever in a month,? Maruti Suzuki stated. The carmaker sold 90,114 cars in the domestic market and exported 10,743 cars during the period under review. The company is all set to launch Alto K10 later this week.
Hyundai Motor India returned to the number two slot, after being pipped by Tata Motors last month, by selling 50,411 units as against 45,539 units in July 2009, registering a 10.7% growth. The company sold 28,811 units in the domestic market and the rest was exported. ?The market continues to be positive and in the next quarter we expect the trend to continue, with the onset of the festive season,? Arvind Saxena, director for sales and marketing, Hyundai Motor India, said.
The focus today will be on auto stocks as the July sales numbers trickle in, reports CNBC-TV18's Sonia Shenoy .
Bajaj Auto: Bajaj Auto posted its highest monthly sales this July, year-on-year. July total sales are up 65% at 3.18 lakh units as compared to 1.92 lakh units in the same period last year. Motorcycle and three-wheeler sales are up 66% and 60% at 2.79 lakh units (1.68 lakh units) and 38,634 units (24,104 units). The company's July exports are up 56% at 1,06,000 units versus 68,585 units.
Month-on-month, Bajaj Auto's July total sales are up 1% at 3.18 lakh units as against 3.15 lakh units. Motorcycle and three-wheeler sales stood at 2.79 lakh units (2.82 lakh units) and 38,634 units (32,614 units).
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