Mahindra, Tata MotorsBSE 0.15 % and Toyota
Kirloskar Motors again reported a fall in passenger vehicle sales in the domestic market in November as negative sentiments continued to play spoilsport in the market.
Utility vehicle major Mahindra &
Mahindra's passegner vehicle sales declined 32% to 16,771 units in November from 24,604 units in the same month last year as new compact SUVs such as the Ford
EcoSport and Renault Duster continued to eat into its market share. Another factor that has hit
Mahindra's sales is the higher excise duty on utility vehicles imposed in the budget.
"After the festive season, the auto industry has turned to further decline and continues to remain subdued,"
Pravin Shah, chief executive, automotive division, at
Mahindra & Mahindra, said. "Unless some concrete measures are provided for its revival, we do not foresee any immediate turnaround," he added.
M&M's total domestic sales including three-wheelers and commercial vehicles declined 22% year-on-year to 36,261 units in November. The only silver lining for the company was that its exports increased 116% to 2,994 vehicles.
Tata Motors, too, continued its downhill journey in November when its passenger vehicle sales declined 42% to 10,376 units from 18,031 vehicles a year earlier. It sold just 7,910 cars including the
Nano, Indica and
Indigo while sales of the utility vehicle range comprising of Sumo, Safari, Aria and Venture stood at 2,466 units.
Toyota continued its tough ride in India with its domestic sales dipping slightly by 144 units in November at 10,208 units. "The market continues to be sluggish and market sentiments are not expected to improve in the coming months," Sandeep Singh, deputy MD and COO (marketing and commercial), at Toyota
Kirloskar Motor, said.
Toyota's total sales, including exports, however, increased 12% year-on-year to 12,748 vehicles, thanks to exports of 2,540