Indian Passenger vehicle sales up 23% in February | Daily News

Indian Passenger vehicle sales up 23% in February

Passenger vehicle wholesale in the Indian market continued to grow year-on-year for the seventh straight month in February as demand for personal mobility remains strong during the pandemic despite soaring fuel prices.

About 308,000 cars and SUVs were dispatched from factories to showrooms during February, a 23% growth over the preceding year, industry data show.

Market leader Maruti NSE 2.17 % Suzuki sold 144,700 passenger vehicles during the month, a year-on-year growth of 8%. Its market share improved by 116 basis points over January to 46.9% but was considerably lower than 53.3% achieved in February 2020.

Hyundai Motor and Tata Motors sold 51,600 and 27,224 units during the month, growing by 29% and 119% over last year.

MG Motor and Nissan were some of the other gainers during the month as sales improved significantly for these automakers with new model launches like the Gloster and Magnite. (www.economictimes.com)