India’s passenger vehicle sales surge to nearly 4.7 lakh in July as demand accelerates

Buoyed by tax relief and GST 2.0-related benefits, the passenger vehicle market in India registered robust July sales at nearly 4.7 lakh units.

The industry saw around 3.5 lakh vehicles being sold in the same month last year, according to the industry.

Maruti Suzuki India reported its highest-ever monthly domestic sales with dispatches crossing the 2 lakh mark for the first time in July. The country's largest carmaker sold a total of 2,41,421 units during the month, up from 1,80,526 units in July last year.

Partho Banerjee, Maruti Suzuki India Senior Executive Officer, Marketing and Sales, said during a conference call with the media that passenger vehicle sales should be around 4.65 lakh to 4.7 lakh in July this year.

“In July last year, the industry was around 3.5 lakh, so it is almost a growth of 33 per cent," Banerjee said.

Overall, passenger vehicle industry witnessed robust growth in July as leading automakers posted strong year-on-year sales, led by sustained demand for SUVs, a sharp rise in electric vehicle sales and healthy export momentum.

Hyundai Motor India posted its highest-ever monthly sales since inception at 75,360 units in July -- a 25.4 per cent year-on-year growth.

Domestic sales rose 23.3 per cent to 54,210 units -- its best-ever July performance -- while exports climbed 31.4 per cent to 21,150 units, the company's highest monthly export volume in more than 100 months.

Kia India also reported its best-ever July wholesale performance with dispatches increasing 27.4 per cent year-on-year to 28,200 units. Cumulative dispatches during January-July stood at 1,91,949 units, up 16.8 per cent from the year-ago period.

Tata Motors Passenger Vehicles (TMPV) reported total sales of 63,760 units in the domestic and international markets in July, up 59 per cent from 40,175 units in the year-ago period. Domestic passenger vehicle sales stood at 62,611 units, up 58 per cent.

Nissan Motor India also reported record monthly wholesale volumes, with total dispatches rising to 9,339 units. Domestic wholesales surged 218 per cent year-on-year to 4,518 units, while exports stood at 4,821 units.

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