While on one hand, there is this talk of Covid-induced free fall of Indian economy, the automobile sector has shown significant growth. Most of the four-wheeler companies have done well in July. Companies like Maruti Suzuki, Tata Motors, Nissan, Skoda India and MJ Motors have registered double-digit growth.
Maruti Suzuki has shown a growth of 38 per cent. It sold 141238 units in July. Entry level models like Alto, Wagon R, high end models like Swift, Celario, Ignis, Baleno and DZire have done extremely well. Sources say that the people are ready to pay more for personal safety and are preferring personalised transport due to the Covid fears. The stability in the financial sectors and the positive economic outlook are acting as growth agents for the automobile industry.
TataMotors, which sold just 15012 units in July 2020, has sold 30185 during the same period this year. MJ motors has claimed that it has notched up lifetime best performance this July. Honda cars registered a 12 per cent growth, while Skoda India has recorded a three-fold increase. Last year during July, it sold just 922 cars, while this year, it has sold 3080 cars in July.
Passenger segment is showing tremendous growth and we hope to sell more cars by October, said an expert in automobile sales sector.