NEW DELHI, MARCH 31: Leading auto makers Telco, Bajaj and Escorts suffered sharp decline in sales in 11 months of fiscal 1997-98, in line with the general slowdown in the industry, while Maruti Udyog and Hero Honda made large gains.Telco, India's largest private sector company, suffered a sharp 42.65 per cent dip in sales of heavy commercial vehicles (HCV) while sales of light commercial vehicles (LCV) were down 22.5 per cent, latest figures indicate.Sales figures of 1997-98 (April-February) released today by the Association of Indian Automobile Manufacturers (AIAM), an apex body of auto majors, indicated a flat growth for the Rs 45,000 crore industry.
One among the world's largest two-wheeler manufacturers, Bajaj Auto Ltd (BAL), also suffered a huge dip in sales in the large scooter and mopeds segment. While scooter sales were down 11.8 per cent and mopeds 27 per cent, motorcycles registered a modest 2.8 per cent growth.
The country's largest car maker Maruti Udyog Ltd (MUL) showed a five per centincrease in sales and improved its stronghold over the passenger car market by garnering a whopping 82.54 per cent market share, AIAM figures indicated. The Delhi-based motorcycle manufacturers, Hero Honda of the Munjals, clocked a whopping 54 per cent rise in sales.
The HCV segment, often referred to as a barometer of the general health of the economy, registered a sharp 38.46 per cent decline in sales in the first 11 months of 1997-98 as against sales in the same period last fiscal. AIAM said HCV sales was 80,225 units this year as against 1,30,363 units last year.
Telco's competitor Ashok Leyland suffered a 27.43 per cent dip in sales in the HCV segment and a 30 per cent decline in sales in the LCV category. LCV sales were down 21 per cent at 57,450 units as against 72,721 units last year and all leading players barring Mahindra & Mahindra (which clocked a 14.33 per cent growth) registered lower sales.
Sales of Eicher was down 18.17 per cent while sales of Bajaj Tempo were down 35.72 per cent, AIAMfigures indicate. Despite a five per cent growth in sales of Maruti, the passenger car industry registered a 0.03 per cent growth at 3.76 lakh cars as against 3.63 lakh cars in the same 11 months of 1996-97.
Korean car maker Daewoo had to confront a 41 per cent decline in sales and Hindustan Motors 14 per cent, while multinationals General Motors and Mercedes Benz improved sales by 16 per cent and 64 per cent respectively. Bajaj's loss in the scooter segment was the gain of LML, the Kanpur-based Singhania company, which improved its market share from 21.16 per cent last year to 24.48 per cent this year.
Copyright © 1998 Indian Express Newspapers (Bombay) Ltd.
