After a long slump of disappointing sales figures in 2019, the last quarter of the year saw retail sales finally witnessing a revision as the buying sentiment was positive again. Automakers registered growth in retail sales in the months between September and December, as festive discounts, benefits, financing schemes lured buyers back to showrooms across the country. According to the Vahan vehicle registration data, passenger vehicle sales grew by eight per cent in September, 14 per cent in October and 6.25 per cent in November 2019. The monthly increase in retail sales comes after the auto industry recorded a two-decade low sales volume in August 2019, as sales witnessed a 31.57 per cent reduction with 196,524 units sold compared to 287,198 units in August 2018.
Meanwhile, auto manufacturers reported a rise in retail sales for the month of December as customers flocked to dealerships to make the most of the year-end offers.
Speaking on the passenger vehicle volumes, Mayank Pareek, President, Passenger Vehicles Business Unit, Tata Motors said, "December retail was 83 per cent higher than the off-take and the dealer network stock has been reduced to the lowest ever level. Having almost completed our planned production and despatches of BS4, we will start moving to BS6 production and despatches from January and step up our volumes in the coming months."
Toyota Kirloskar Motor too has witnessed a nearly 45 per cent increase in retail sales over wholesale figures for the month of December 2019 despite the slowdown.
Commenting on the monthly sales, Naveen Soni, Senior Vice President, Sales and Service, Toyota said, "We are happy that there has been a continued positive retail sales momentum despite the overall slowdown in the industry. We currently don't cater to the entire market with our products, although the segments we represent have shown de-growth of around 22 per cent, yet our de-growth as compared to the segment has been much lesser. Thanks to our valued customers for their trust and confidence, we are happy to note that our main products (Innova and Fortuner) continue to hold their segment leadership."
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