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Indian Auto Sales Surge 33% in July!
1 Aug
Summary
- Passenger vehicle sales rose 33% to 4.7 lakh units in July.
- Maruti Suzuki and Hyundai achieved record monthly sales figures.
- Growth driven by GST 2.0, lower repo rates, and tax relief.
Passenger vehicle sales in the domestic market saw an impressive surge of approximately 33% in July, reaching an estimated 4.7 lakh units. This growth was propelled by record volumes from leading manufacturers like Maruti Suzuki and Hyundai.
Homegrown companies Tata Motors and Mahindra & Mahindra also registered robust double-digit growth. The positive sales momentum is sustained by key economic factors including GST 2.0 benefits, lower repo rates, and income tax relief on earnings up to Rs 12 lakh.
Maruti Suzuki recorded its best-ever domestic passenger vehicle sales at 1,96,203 units in July, a 43.4% increase year-on-year. Hyundai Motor India achieved its highest monthly domestic sales ever, selling 54,210 units, marking a 23.3% rise.
Other manufacturers also reported strong performances. Tata Motors saw a 58% jump in domestic PV sales, while Mahindra & Mahindra reported a 20% growth in utility vehicle sales. Honda Cars India experienced over 48% domestic sales growth, with Toyota Kirloskar Motor reporting a 5% rise and Kia India a 27.4% increase in wholesale dispatches.
