Passenger Vehicles Output Down 13.18% In April-July
Passenger vehicles production in India was down 13.18 percent in April-July with top manufacturers such as Maruti Suzuki India Ltd., Mahindra & Mahindra Ltd., Tata Motors Ltd., Ford India, Toyota Motor Corporation and Honda Motor Company Ltd. reducing output massively.
Hyundai Motor India Ltd. and Volkswagen India were the only two manufacturers which saw production grow marginally during the period, according to the latest data by the Society of Indian Automobile Manufacturers.
Total passenger vehicles production in the April-July period stood at 12,13,281 units against 13,97,404 units in the same period last fiscal, down 13.18 percent, SIAM said.
Market leader Maruti Suzuki India’s production during the period stood at 5,32,979 units, down 18.06 percent from the comparable period last fiscal.
M&M also cut its production by 10.65 percent to 80,679 units, while that of Ford India stood at 71,348 units, down 25.11 percent from the year-ago period.
Tata Motors’ production was also down 20.37 percent at 59,667 units.
Honda’s output fell 18.86 percent over last year to 47,043 units. Toyota Kirloskar Motor reduced its production during the period by 20.98 percent to 45,491 units.
On the other hand, Hyundai, India’s second-largest passenger vehicle maker, saw its production grow marginally by 1.77 percent to 2,39,671 units in the April-July period.
Volkswagen India’s production, too, increased 1.05 percent to 36,929 units.
In the two-wheeler segment, total production was down 9.96 percent at 78,45,675 units, according to SIAM data.
Market leader Hero MotoCorp’s production was at 24,66,802 units, down 12.03 percent from the year-ago period.
Honda Motorcycle and Scooter India also reduced production by 18.5 percent to 19,44,900 units, while that of TVS Motor Company Ltd. was down 8.07 percent at 11,54,670 units.
Royal Enfield cut its output by 22.35 percent to 2,40,190 units.
In contrast, Bajaj Auto increased its production by 4.47 percent during the period at 13,89,396 units. Suzuki Motorcycle India also raised output by 24.51 percent to 2,83,291 units.
The current slowdown in the auto industry has forced manufacturers to reduce production, which resulted in retrenchment of 15,000 casual and temporary workers so far.
The Federation of Automobile Dealers Associations has also said nearly two lakh jobs were cut in the last three months, while the Automotive Component Manufacturers Association has cautioned that nearly 10 lakh jobs were on the line due to the market slump.