Mega companies came close to achieving 100 percent of the pre-COVID-19 sales numbers set in February. Some of them include Mahindra & Mahindra, Hero Motocorp, and TVS Motor. There has been a gradual sharpening of Year-on-year sales, and some of the industry executives are predicting the increase in the near future.
If compared with 36,697 units in May 2020, the industry estimates that as more as 116,449 passenger vehicles were sold in the local market in June, hence recovering wholesale sales close to
half the volumes of 239,137 units that were recorded in June last year.
As per the Automakers in India report, wholesale dispatches from factories and not retail sales made to customers.
Two-wheeler major Hero MotoCorp and TVS Motor, Mahindra & Mahindra had the best performance across the industry. While if we talk about Hero MotoCorp, they saw sales grow four-fold to 450,744 units over May.
Also, the arrival of monsoon in a timely manner this year has also helped the growth in the tractor sales. Even the passenger car numbers of Mahindra have jumped 109 percent month-on-month to 8075 units as compared to 57 percent down year-on-year.
Chairman of Hero, Pawan Munjal highlighted, “A combination of multiple factors, including the forecast of a normal monsoon, a bumper Rabi crop and the upcoming festive season are expected to keep the momentum going over the next few months.” “Major part of the market demand is emanating from the rural and semi-urban markets, and have been aiding to a large extent by various stimulus packages rolled out by the government,” he added.
