【Mumbai】Showing revival in demand, domestic car sales grew (y-o-y) for the third month in succession in July, rising 5.04%, which prompted Society of Indian Automobile Manufacturers (Siam) to hope for a 5-10% increase this fiscal.
Riding on the improved consumer sentiment, domestic passenger car sales rose to 1.38 lakh units last month from 1.31 lakh units in July, 2013, according to data released by the SIAM. Maruti Suzuki posted sales growth of 15.45% while rival Hyundai saw 12% growth.
SIAM figures show that car sales have been in the negative zone for the last two financial years. While it was -7.74 per cent in financial year 2012-13 (18.74 lakh units), it declined by -4.65 per cent in 2013-14 (17.87 lakh units). Although it was the third straight month of rise in passenger car sales, the growth rate in July was lower than that in the previous month. May and June had logged 3% and 10% year-on-year increase in sales, respectively.
Utility vehicle sales grew a steep 18.55%. Two-wheeler sales grew 14 per cent to 12.87 lakh units in July as against 11.32 lakh units in July 2013. While scooter sales grew 37 per cent to 3.72 lakh units during the month (versus 2.71 lakh units last July), motorcycle sales grew 6 per cent to 8.59 lakh units in July against 8.09 lakh units in July 2013. Three-wheeler sales grew 23.78 per cent to 51,461 units in July as against 41,572 units in July 2013.
However, commercial-vehicle sales fell 13.64% to 47,765 units in July against 55,310 units in July 2013. Especially medium and heavy commercial-vehicle sales fell for the 29% consecutive month, to 17,799 units, in July as against 18,611 units in the corresponding month last year.
○Yamaha rejigs India ops, brings group firms under one umbrella
【Chennai】Yamaha Motor Company on the 8th of August announced the completion of its India business’ restructuring exercise with the restart of Yamaha Motor India (YMI) as the regional control company for India operations.
YMI would function as the regional headquarters by unifying all three present operations in India under the names of India Yamaha Motor (IYM), Yamaha Motor India Sales (YMIS) and Yamaha Motor Research and Development India (YMRI).
Effective August 15, Hiroyuki Suzuki, currently CEO & managing director of IYM, has been appointed managing director of YMI even as he functions as chairman of other Yamaha group companies in India, such as YMIS and YMRI. Takashi Terabayashi, deputy MD of IYM, would be the new MD of IYM, said a statement.
○Maruti assures investors on Gujarat project plans
【New Delhi】Maruti Suzuki India Limited (MSIL) on the 8th August said benefits of developing its Gujarat project through a wholly-owned subsidiary of Japanese parent Suzuki Motor Corporation (SMC) were being conveyed to investors by an MSIL team, led by Chairman R C Bhargava and Managing Director K Ayukawa.
Kotak Mahindra Capital and Axis Capital will facilitate the process to woo minority shareholders. "The investment bankers are required to identify investors in various parts of the world, arrange meetings with them and the logistical support. These are involved in talks with MSIL in finalising presentations and strategy for the discussions, but the final decisions are of MSIL," a spokesperson said.
【News source】
GETTING BACK ON TRACK?
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Yamaha rejigs India ops, brings group firms under one umbrella
Yamaha restructures India biz
Yamaha Motor sets up control company for India
Maruti assures investors on Gujarat project plans
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