Sales of passenger vehicles in the domestic market rose 4-4.5% to 2,50,000 units last month, driven by new models and year-end discounts offered to push sales, initial industry numbers show.
In the fiscal year ended on March 31, wholesale volume is estimated to have risen 7-8% to 2.7-2.8 million. Industry growth last month, though, was largely driven by market leader Maruti Suzuki and the local unit of Korean rival Hyundai Motor. While Renault managed to more than double volume to nearly 12,500 units on account of the success of the small car Kwid, for the rest the market proved to be choppy. Sales slid for Honda Cars India by 23%, Tata Motors by 44%, Toyota Kirloskar by 43%, General Motors by 21%, Nissan by 7% and Volkswagen by 22%. In the last quarter of fiscal 2016, the passenger vehicle industry could post just growth of 2.2%, as the spurt in demand seen during October-December festival period abated.