The auto majors in India Hyundai and Ford reported an increase in its sales for the month of July, signaling a gradual revival of the market sentiment in the country.
The country's second largest car manufacturer Hyundai Motor India Ltd (HMIL) reported a 12.7 percent increase in its domestic sales in July, selling 29,260 units. The company exported 18,750 units during the same period and the cumulative sales of the company stood at 48,010 units for the month of July.
Announcing July sales, Rakesh Srivastava, Sr. VP, Sales and Marketing, HMIL said, "Hyundai volumes are 29,260 units with growth of 12.7 percent over last year and 13.3 percent cumulative growth with high market share of 23 percent in passenger cars. The demand pull created by the successful product launches and strong channel spread has brought down the discounts and the green shoots of growth are visible with the stabilization of macro-economic factors and near to average monsoons."
Ford India also posted an increase in its sales in July. The company sold 15,282 units in July 2014, as against the 12,338 units in the same month last year, registering a growth of 23.86 percent. However, the domestic sales of Ford witnessed a decline of 3.49 percent to 7,592 units in July as against the 7,867 units a year ago.
Maruti Suzuki, the country's largest car maker posted a sales growth of 21.7 percent during July. The total vehicle sales for the month of July stood at 1,01,380 units as against the 83,299 units in the corresponding month last year. The domestic sales of the company zoomed to 90,093 units last month from 75,145 units in July 2013; registering a growth of 19.9 percent.
Honda Cars India sold 15,709 units in July, as against the 11,223 units in the corresponding month last year. Last month, the company sold 74 units of its small car Brio, while its Amaze and City offerings stood at 4,507 and 7,705 respectively. The export of the company stood at 858 units in July, taking the grand total of vehicles sold in July to 16,567.
However, Mahindra & Mahindra continues to witness a decline. The domestic sales of the company declined 4.18 percent to 33,047 units last month as against the 34,490 units during the corresponding month last year.