Maruti Suzuki and Hyundai Motor India reported a double-digit drop in vehicle dispatches in June amid a demand slowdown in the domestic market.
Maruti Suzuki, the country’s largest car maker, said its total domestic passenger vehicle (PV) dispatches to dealers dipped 13 per cent to 1,18,906 units last month compared with 1,37,160 units a year ago.
“The slowdown in PV sales is largely due to a sharp decline in the smaller segment cars. Historically, PV sales used to grow at 1.5 times the GDP growth. But now, even after 6.5 per cent GDP growth, the car market is nearly flat,” MSI senior executive officer Rahul Bharti said, attributing the fall to affordability.
Hyundai Motor India dispatches to dealers in the domestic market declined 12 per cent to 44,024 units in June compared with 50,103 units in the year-ago period.
Mahindra & Mahindra reported an 18 per cent increase in sales of utility vehicles to 47,306 units in the domestic market last month against 40,022 units a year ago.
Tata Motors said its PV sales, including EVs, in the domestic market, were down 15 per cent to 37,083 units compared with 43,524 units in the year-ago month.
Toyota Kirloskar Motor said its sales increased 5 per cent year-on-year to 28,869 units in June.
JSW MG Motor India reported monthly sales of 5,829 units in June, registering a 21 per cent year-on-year growth.