The Indian auto industry has released its sales data for September, with several major companies reporting their numbers. Maruti Suzuki, one of the largest automakers in the country, reported a 2.7% increase in total sales, with domestic sales down 6% and export sales up 52%. The company’s executive director, Partho Banerjee, noted that the GST rate cut has improved customer sentiment, and the company is seeing strong demand in the small car segment.
Other companies also reported positive sales numbers, with Hero MotoCorp seeing a 7.9% increase in total sales, driven by a 95% increase in exports. TVS Motor reported a 12% increase in total sales, with a 17% increase in scooter sales and an 8% increase in electric vehicle sales. Eicher Motors, the parent company of Royal Enfield, reported a 43% increase in total motorcycle sales, with exports up 41%.
Tata Motors reported a 47% increase in total passenger vehicle sales, while Mahindra and Mahindra reported a 16% increase in total sales. Hyundai Motor reported a 10% increase in total sales, while Toyota Motor reported a 16% increase. JSW MG Motor reported a 34% increase in total sales, and Steel Strips reported a 13% increase.
The two-wheeler segment has yet to see a significant impact from the GST cut, but companies such as Bajaj Auto and Atul Auto reported positive sales numbers. Bajaj Auto reported a 9% increase in total sales, while Atul Auto reported a 4.2% increase.
The auto industry is expected to see a revival in the small car segment, with Maruti Suzuki and other companies reporting strong demand. The GST rate cut has improved customer sentiment, and companies are expecting a boost in sales in the coming months. Overall, the September sales data suggests that the Indian auto industry is on the path to recovery, with several companies reporting positive sales numbers.