Automotive Sector Growth Stays Strong in February

Automotive Sector Growth Stays Strong in February

Tamil Nadu Industry Review Team

Automobile sector continued its accelerated growth in February with both passenger vehicles as well as two-wheelers domestic market reporting year-on-year growth.

In the passenger vehicle (PV) segment, market leader Maruti Suzuki reported a growth of 8 per cent YoY in its domestic wholesale at 1,44,761 units during the month compared with 1,33,702 units in the corresponding month last year, according to a report by The Hindu BusinessLine. The second largest passenger vehicle maker Hyundai Motro India (HMIL) reported a growth of 29 per cent YoY to 51,600 units against 40,010 units in February 2020.

“Hyundai Motor India has been consistently striving to drive a resurgence in sales, thereby contributing towards economic recovery and bringing the industry closer to pre-Covid level sales,” Tarun Garg, Director (Sales, Marketing & Service), HMIL, said.

Mahindra & Mahindra reported a growth of 41 per cent YoY in the domestic sales to 15,391 units during last month compared with 10,938 units in February last year. ‘Nexon’ maker Tata Motors recorded a growth of 119 per cent YoY in domestic sales at 27,225 units (12,430 units). “February 2021 sales have been the highest ever sales for Tata Motors PV in nearly nine years (107 months),” the company said in a statement.  

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