Car sales remain buoyant in July – Times of India
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NEW DELHI: As the festive season comes closer, auto companies started stocking up at dealerships and reported a healthy growth in wholesale numbers in July. Except for Hero MotoCorp, all the other automakers reported strong numbers in July, as companies such as Maruti, Hyundai, Tata Motors and Toyota remain optimistic about demand over the coming months even as there still remains uncertainty over Covid and a possible third wave.
Maruti Suzuki, the country’s biggest carmaker, reported a 37% growth in deliveries to dealerships at 1.3 lakh unitsagainst nearly 98,000 units in the same month last year. The company has a huge backlog of bookings that is understood to be at over 1.5 lakh cars. Maruti is now quickly ramping up production to meet demand.
While the second wave of coronavirus — during the past few months — has had a bigger impact on life and livelihoods, auto companies are hoping for a quicker turnaround in demand as need for personal mobility goes up due to advisories on social distancing. Also, there has been pent-up demand.
Maruti Suzuki, the country’s biggest carmaker, reported a 37% growth in deliveries to dealerships at 1.3 lakh unitsagainst nearly 98,000 units in the same month last year. The company has a huge backlog of bookings that is understood to be at over 1.5 lakh cars. Maruti is now quickly ramping up production to meet demand.
While the second wave of coronavirus — during the past few months — has had a bigger impact on life and livelihoods, auto companies are hoping for a quicker turnaround in demand as need for personal mobility goes up due to advisories on social distancing. Also, there has been pent-up demand.
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