Biznextindia : After touching the bottom in April due to the lockdown, the automobile sector is on a recovery path. Especially following the announcement of Unlock 1.0 in June, several automobile companies have registered sharp improvement in their sales.
Maruti Suzuki, India’s largest seller of passenger vehicles has reported 54 per cent Year on year (YoY) drop in overall sales at 57,428 units in June mainly due to the business disruptions related to the lockdown. However, the company has reported 209 per cent rise in sales on month on month basis as compared to 18539 units in May.
The company’s domestic sales during the April-June quarter has dropped by 82 per cent to 66165 units as compared to 369985 units in the Q1 of last financial year. Overall sales has dropped by 81 per cent to 76,599 units as compared to 402594 units in the Q1 of last financial year.
However, the company has said that the sales performance during June 2020 and Q1 FY 20-21 should be seen in the context of the ongoing COVID-19 pandemic, lockdowns and restrictions required for safety.