Vehicle sales in India grew 15.44 percent during the April to August period this year to 93.91 lakh units, notwithstanding a Supreme Court ban on diesel car sales (on engine capacity of 2,000 cc or above) in Delhi, the biggest market for cars in India.
On the flip side, exports saw a 11 percent fall, reflecting the persisting weakness in the global economy. The top exporter in the car segment was Hyundai at 70,893 units, followed by Ford Motors at 60,249 cars.
In comparison, domestic vehicle sales during the corresponding period last year stood at 81.35 vehicles.
Among car exporters, Hyundai sales remained almost flat, while Ford Motors saw a 45 percent jump in volumes as compared to the corresponding period last year. In the process, the company drove ahead of India's largest carmaker Maruti Suzuki India Ltd. (MSIL), whose exports stood at 48,908 units.
The Supreme Court revoked its Dec. 15, 2016 ban on sale of diesel cars last month on condition that the companies or their dealers pay "green cess" of 1 percent.
Commerce vehicle sales grew 7.97 percent though the growth has been tapering in the past few months, as was evident from the numbers reported by Ashok Leyland and Tata Motors.
In August 2016, the Chennai-based automobile company sold 10,897 units, 6 percent less than 11,544 vehicles sold in the corresponding month last year. Its July 2016 sales stood at 10,492 units, a fall of 5 percent from 11,054 vehicles sold in July 2015.
Tata Motors reported 17 percent fall in domestic medium and heavy vehicle (M&HCV) sales to 9,969 units.
Shares of Tata Motors were trading 1.54 percent lower at Rs. 545.55 apiece on Wednesday on the Bombay Stock Exchange (BSE) at around 1.20 p.m. MSIL was flat at Rs. 5,357.15, while Ashok Leyland was up 1.20 percent at Rs. 84.50. Over a three-month period, Ashok Leyland shares have fallen from its June 14 closing price of Rs. 104.85.
