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A recent Outlook Money report stated that in the first two quarters of the current fiscal year, Indian companies successfully cut down costs. As a result, they managed to grow net profits.
This positive change got reflected directly in the automobile sector with most of the auto majors registering impressive sales figures in February.
Take a look at the progress report of some big automobile companies:
Maruti Suzuki India
The company reported its highest-ever monthly sales of 96,650 units for February, a jump of 22.05 per cent over the same month last year.
The company had sold 79,190 units during the same month last year. "This is the highest-ever total monthly sales in the company's history," Maruti Suzuki India said.
The previous monthly sales record stood at 95,649 units in January 2010, it added. In the domestic market, Maruti sold 84,765 units from 70,625 units in February 2009, an increase of 20.02 per cent.
Exports surged by 38.76 per cent to 11,885 units from 8,565 units in the year-ago period, it added.
However, sales of the company's once bread-and-butter model M800 fell by 22.01 per cent at 3,178 units compared to 4,075 units in February 2009, the statement said.
The A2 segment (comprising Alto, WagonR, Estilo, Swift, A-Star and Ritz) witnessed 19.97 per cent growth at 60,380 units compared to 50,331 units in the same month a year ago. A3 segment sales (consisting of SX4 and DZiRE) increased by 27.49 per cent to 10,254 units compared to 8,043 units in the corresponding period a year ago, the company said.
MSI's passenger car sales rose 20.53 per cent at 84,480 units in February against 70,090 units in the same month in 2009, it added.
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Hyundai sells 54,617 cars
Hyundai Motor India Ltd touched a new high on Tuesday with record sales of 31,001 units in the domestic market registering 46.1 per cent growth over the same month last year.
HMIL's total sales for February stood at 54,617 units as against 38,235 units in February, 2009 registering 42.8 per cent cumulative growth.
The domestic sales growth accounted for 31,001 units (which is the highest since 1998 when HMIL launched the Santro in September) as against 21,215 units in February, 2009 while the exports grew from 17,020 units in February, 2009 to 23,616 units in February, 2010 reflecting 38.8 per cent growth YOY.
GM too paints a rosy picture
Riding high on the success of the popular Chevrolet brand, General Motors India has registered a record growth of 126 per cent in sales in February 2010, compared to the corresponding period last year.
It sold 11,111 units in February 2010 against 4,921 units in February last year recording an all time high in monthly sales. This is the first time that the company has crossed ten thousand units sales in a month since the inception of the company in India in 1996.
The February 2010 sales comprise of 4431 units of Chevrolet Beat, 3412 units of Chevrolet Spark, 1592 units of Chevrolet Tavera, 726 units of Chevrolet Cruze, 420 units of Aveo, 411 units of Aveo U-VA, 98 units of Chevrolet Optra and 21 units of Chevrolet Captiva.
The growth was primarily driven by the much sought after Chevrolet Beat and the Spark. The Chevrolet Beat launched recently has become the industry benchmark and a winner among consumers in India, with its best-in-segment design, performance and other product attributes.
Other car lines have also registered impressive growth during the month. The Chevrolet Spark continues to record impressive growth in sales and it has emerged as the most sought after mini car in its segment in terms of styling, performance, fuel efficiency, value for money proposition and other product attributes.
M&M sales register solid growth
M&M Ltd. total tractor sales (domestic + exports) register 53% increase at 13920 units in February 2010
Mahindra & Mahindra's Farm Equipment Sector, a part of the U.S. $6.3 billion Mahindra Group, maintained its leadership position in the tractor industry in February 2010.
Total tractor sales (domestic + exports) for February 2010 stand at 13920 units, as compared to 9123 units for the same period last year, an increase of 53 per cent.
Exports for February 2010 stand at 780 units, as compared to 244 units for the same period last year, an increase of 220 per cent.
Domestic sales for the month of February 2010 stand at 13140 units, as compared to 8879 units for the same period last year, an increase of 48 per cent.
YTD domestic sales registered a 47 per cent increase at 150593 units, as against 102478 units for the same period last year. The company's YTD sales (domestic + exports) registered a 45% increase at 158469 units, as compared to 109242 units for the same period last year.
Toyota registers over 100% growth
Toyota Kirloskar Motor Pvt. Ltd. announced on Tuesday it has more than doubled its sales in February2010, as compared to the same month last year.
TKM recored 101 per cent growth in sales with 5993 units sold in February 2010 -- sales of the Innova, Corolla and Fortuner at 4142, 863 and 972 units respectively -- as compared to 2976 units in the same month last year.
Cumulative sales for the period Jan-Feb 2010 stand at 11,982 units, recording an increase of 109 per cent over the same period last year. During this time, the Innova, Corolla and Fortuner sold 8278, 1787 and 1875 units respectively, TKM said.
Bajaj motorcycle sales jump 78% in Feb
Bajaj Auto on Tuesday reported 78.03 per cent jump in motorcycle sales at 2,34,623 units in February.
The company had sold 1,31,785 units in February last year, Bajaj Auto Ltd said.
BAL attributed growth to robust sales of its Pulsar and Discover range of bikes, it added. Total two-wheeler sales during the month also jumped by 77.28 per cent to 2,34,710 units compared to 1,32,393 units in the same period a year ago, it said.
BAL's exports went up 53.03 per cent to 77,642 units in February from 50,738 units in February, 2009.
The company reported a rise of 58.81 per cent in three-wheeler sales during February at 33,968 units as against 21,389 units during the same month last year.
Total vehicle sales of the company last month stood at 2,68,678 units compared to 1,53,782 units in the same period a year ago registering a growth of 74.71 per cent, the statement said.