Auto Sales Improve But At A Slower Pace In May
Automobile sales continued to grow in May but at a slower pace than same period year ago due to a high base, according to BloombergQuint’s survey of more than 35 dealers across the country.
Passenger vehicles fared better than two-wheelers in the traditionally lean month for sales ahead of monsoon, the survey found.
Key takeaways from the dealer survey:
- The company has managed to ramp-up production leading to better sales for most of its popular models like Swift, Baleno, Dzire and Brezza.
- Also, customers are buying more since they expect a price hike next month. However, the company hasn’t announced any such plans.
- Except Bolero, most of the company’s offerings witness flat-to-marginally month-on-month growth.
- Sales jumped on account of a low base.
- Overall demand and increased presence helped volumes. The company’s advertising spend also boosted volumes as it was the official partner of the Indian Premier League 2018.
- Strong demand in the entry-level segment.
- Launched the Xtreme 200R in May.
- Expect five new launches this financial year.
- Strong demand for the company’s flagship scooter Ntorq and motorcycle Apache RR 310.
- Sales rose year-on-year as the two-wheeler maker had witnessed a weak May last year.
- The firm’s Thunderbird 500X and 350X have a waiting period of two months.