Retail sales of cars picked up speed in August

August has been good for the automobile market in terms of sales. Last month, the passenger vehicle segment registered a year-on-year growth of 6.51 percent. Sales have gained momentum due to the launch of new models of cars in the last few months. Retail sales of cars stood at 2,64,448 units in August. It was 2,57,672 units in the same month last year.

Maruti Suzuki stood first in retail sales of cars. The company sold 1,07,517 units last month. However, it is less as compared to the same month last year. The company’s market share was 42.44 percent in August last year, which decreased to 39.18 percent in August this year. sales In terms of price, Maruti has seven models in the top 10 cars. Maruti’s WagonR was the top selling car for a long time but Baleno has now taken over this position. The recently launched Alto K10 could be a major reason for the decline in sales of the WagonR, which also has a lower price tag. Customers are liking its new version. Hyundai is in second place in retail sales. However, the sales of the company have decreased as compared to the same month last year. Hyundai sold 43,188 units in August.

Third-ranked Tata Motors’ retail sales increased to 25,930 units in August. The market share of the company has increased to around 13.75 percent from 10.06 percent in the same month last year. Retail sales of both Mahindra & Mahindra and Kia Motors on a year-on-year basis Growth happened. Along with this, their market share has also improved. Toyota Kirloskar Motors ranks sixth in retail sales. The company sold 14,873 units last month. This is an increase of more than five percent from the same period last year.

With the launch of some new models in the coming months, car sales are expected to increase. The automobile industry is expecting an increase in sales during the festive season from last year. However, due to shortage of semiconductors and some other reasons, customers have to wait longer for some models of cars.

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