The festive season may have failed to give the desired push which manufacturers in India had been waiting for but as the New Year gets nearer, the companies are getting ready to embrace the year with their own flurry of launches.
Owing to a lot of problems like rising input costs, higher taxes, inflation, the Indian car industry was facing a big slowdown. But thankfully, the sector, as a whole, is striving to get back in the green after a long red patch.
A precursor to the sales expected in the festive season could be seen across the industry in the last month where, save for one or two, almost every car and bike manufacturer showed positive trends in sales. Toyota Kirloskar Motor (TKM) was no exception and it registered a growth of four per cent by selling 12,552 units in September 2014 in the domestic market as compared to the 12,015 units sold in the same month, last year.
However, the company exported 1,500 units of Etios series last month, which is less when compared to the 3,780 units exported in the same month of 2013. N Raja, Director and Senior Vice President, Sales and Marketing, TKM, is of the view that ‘the industry is beginning to gradually turnaround and positive market sentiments combined with the festive season is expected to boost sales in the coming months as well.’
The current financial year has been good so far for almost all car makers in India, and August 2014 continued the good run for most. Ford sold a total of 14,092 vehicles (domestic and exports, combined) last month, thereby registering a 27 per cent increase from the 11,065 units sold in the corresponding month last year. However there is more to it than what meets the eye!
Tata Motors’ miseries continue to torment it, refusing to let it rise. The company’s cumulative sales (domestic sales and exports) saw a decline of 34 percent, witnessing 33,892 units rolling out of its factories in April 2014 instead of 51,160 units in April 2013.