AP’s passenger car sales for the recently ended fiscal have registered a growth of 10%. The state seems to have performed better compared to the country’s overall sales numbers. India’s passenger car sales saw a marginal increase of 2.7% in the recently ended fiscal of 2018-19.
Most of the car brands witnessed an increase in their sales compared to the previous fiscal of 17-18.
In terms of volumes the entire state of Andhra Pradesh sold 53,129 units (passenger vehicles) compared to 48,230 units sold in 17-18 thus marking a 10% growth.
Though there has been a growth in the numbers industry insiders say that the growth rate has slowed down compared to the previous fiscal 17-18.
‘Even though we have seen a growth of 10% in the last fiscal(18-19) the growth rate has slowed down compared to the previous fiscal says Mr Prasad Babu, Lakshmi Hyundai.
Concurs Mr Damodar CEO, Orange FCA whose company sells the Jeep brand in the mid premium SUV segment said ‘There has been a 20% drop for us in FY 18-19 compared to FY 17-18 growth numbers’.
He however affirms that the Vizag market has immense potential for growth and opines that SUVs will be a significant contributor to the growth in passenger car sales.
‘The Vizag market is different as people here predominantly travel with families hence need for more space therefore Jeep fits in best and can be driven on any terrain’ says Mr Damodar.
Market leader Maruti Suzuki seems to have had a good 2018-19. ‘Last year has been good for us. We have seen an overall growth of 20% YoY for our dealership and Maruti Suzuki continues its leadership position holding a market share of 53% in the city’ says Mr Sunny Babu, CGM, Jayabheri Auto.
New Vehicles on the anvil:
Car dealers are eagerly counting on their new launches hoping it would further enhance their sales. Honda is expected to launch its HRV sometime this year. ‘With a 5 year unlimited km warranty on HRV we believe this will be a big hit in the market. This type of warranty is unheard of in the industry. It’s due to Honda’s confidence in its Technology and manufacturing that we will be offering this warranty’ says Mr David Raju of Sundaram Honda.