Maruti Suzuki registered 17% and Escorts Motors registered 80% growth in August Sale

• The Indian automobile sector is now showing signs of improvement.
• After 6 months of slowdown, India’s largest car manufacturer Maruti Suzuki registered 17% growth in overall sales led by a 20% jump in domestic sales.
• The shares of Escorts Motors jumped 5% on back of record sales in August. The tractor manufacturer recorded 80% growth in total sales led by a 9% increase in exports.
• Check out the latest news and updates on Business Insider.

The Indian automobile manufactures are seeing signs of a turnaround from the lockdown woes, with sales picture improving amidst positive signs of recovery. The demand normalisation is due to various reasons ranging from — the gradual resumption of the supply chain to strong sentiments in rural and semi-urban markets and rise in preference for personal mobility to the start of the festive season.

Here’s August monthly auto sales number from Maruti Suzuki, M&M, Escorts, Hero MotoCorp, TVS, Bajaj Auto and others:

After 6 months of slowdown, India’s largest car manufacturer Maruti Suzuki registered 17% growth in overall sales led by a 20% jump in domestic sales. However, the export market continues to remain under pressure.

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The shares of Escorts Motors also jumped 5% on back of record sales in August. The tractor manufacturer recorded 80% growth in total sales led by a 9% increase in exports.

Mahindra and Mahindra (M&M) registered 16% de-growth in sales in the month of August despite a positive growth in passenger vehicles and commercial vehicles. The overall sales was dragged down by a whopping drop of 94% in the three-wheeler segment. However, the farm equipment segment of M&M remains the bright spot, recording a 65% growth in the month of August.

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Eicher Motors over all sales plunged 30% with domestic sales taking a massive hit.

Ashok Leyland also reported a 52% drop in M&HCV sales. The company recorded a 36% drop in track sales, while bus sales were down 93% compared to the same period last year.

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The period remained grim for the commercial vehicle as it remains the worst affected segment due to economic slowdown. Along with that, people are still reluctant to use public transport, and the rise in personal mobility can further damage the segment.

Tata Motors also recorded 21.6% growth in overall domestic sales led by 154% growth in the passenger vehicle segment. Meanwhile the domestic commercial vehicles segment saw a decline of 28%.

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