Auto Sales In July 2020: Maruti Suzuki Sales Surge 88.2% On Monthly Basis

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Aug 01 2020, 11:16 AMAug 01 2020, 11:16 AMAugust 01 2020, 11:16 AMAugust 01 2020, 11:16 AM

Automakers continued to feel the pain of a sales slowdown, aggravated by coronavirus lockdown, in all but one segment of their industry in July, analysts say.

Factory-gate shipments of passenger cars, two-wheelers and commercial vehicles likely fell in the range of 3-71% year-on-year in July, according to data compiled from reports of four brokerages—Nomura, Emkay Global, Motilal Oswal and Dolat Capital.

All segments, barring tractors, may have witnessed a decline in sales over the year ago. Tractor demand, analysts said, remained strong on account of early Kharif sowing, easy vehicle finance availability and higher yield.

Wholesales for most automakers, however, surged over the preceding month as rural demand improved and people opted personal vehicles amid fears of contracting the virus.

Here’s a look at the Auto Sales in July 2020, as reported by the companies:

05:44 AM

Maruti Suzuki Sales Rose 88.2% Sequentially In July

Maruti Suzuki India Ltd. sold 108,064 units in July 2020—that’s a growth of 88.2% over June 2020 and a fall of 1.1% over July 2019.

The sales figure includes domestic sales of 100,000 units and 1,307 units for other original equipment manufacturers in the local market. The company also exported 6,757 units in July 2020.

The sales performance signals a better second quarter for Maruti Suzuki after its first quarterly loss since listing in the April-June period. India’s largest carmaker recorded a loss of Rs 249.5 crore compared with a profit of Rs 1,435.5 crore a year ago.

But the company is witnessing an increase in first-time buyers, Executive Director (Sales and Marketing) Shashank Srivastava said in a post-earnings call on July 29, as people are choosing personal mobility over public transport to reduce risk of infection.