Post GST price cuts, auto makers report strong sales
GST
Dated:- 2-8-2017
New Delhi, Aug 1 (PTI) Major automobile makers today reported robust sales growth across segments driven by price reductions and restocking of vehicles at dealerships post GST implementation.
\nLed by market leader Maruti Suzuki India, passenger vehicles segment witnessed strong growth last month with other companies such as Tata Motors, Mahindra & Mahindra (M&M), Ford India and Honda Cars India also registering double digit expansion in domestic market sales.
\nMaruti Suzuki India (MSI) posted a 22.4 per cent increase in domestic sales at 1,54,001 units as against 1,25,778 in July 2016.
\nThe company's growth was driven by compact segment comprising S<\/p>\n
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Plain text (Extract) only<\/strong> = = = = = = = =<\/p>\n ainst 7,076 units in July last year. = = = = = = = =<\/p>\n Plain text (Extract) only<\/strong> = = = = = = = =<\/p>\n e lowering of prices on account of GST implementation and good monsoon would increase customer confidence and sentiment towards vehicle buying. = = = = = = = =<\/p>\n Plain text (Extract) only<\/strong> = = = = = = = =<\/p>\n","protected":false},"excerpt":{"rendered":" Post GST price cuts, auto makers report strong sales GSTDated:- 2-8-2017New Delhi, Aug 1 (PTI) Major automobile makers today reported robust sales growth across segments driven by price reductions and restocking of vehicles at dealerships post GST implementation. Led by market leader Maruti Suzuki India, passenger vehicles segment witnessed strong growth last month with other … Continue reading “Post GST price cuts, auto makers report strong sales”<\/span><\/a><\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[],"tags":[],"class_list":["post-6758","post","type-post","status-publish","format-standard","hentry"],"_links":{"self":[{"href":"https:\/\/goodsandservicetax.in\/GST\/index.php?rest_route=\/wp\/v2\/posts\/6758","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/goodsandservicetax.in\/GST\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/goodsandservicetax.in\/GST\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/goodsandservicetax.in\/GST\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/goodsandservicetax.in\/GST\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=6758"}],"version-history":[{"count":0,"href":"https:\/\/goodsandservicetax.in\/GST\/index.php?rest_route=\/wp\/v2\/posts\/6758\/revisions"}],"wp:attachment":[{"href":"https:\/\/goodsandservicetax.in\/GST\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=6758"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/goodsandservicetax.in\/GST\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=6758"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/goodsandservicetax.in\/GST\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=6758"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}
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\nStating that there was administrative challenges associated with the introduction of GST in July, Ford India President and Managing Director Anurag Mehrotra said, adding that going ahead there will be short-term headwinds associated with GST and rising input costs.
\n"We believe a good monsoon, conducive financing rates and consumer confidence during festival season will provide a good impetus for the industry," he said.
\nHomegrown utility vehicles major M&M saw a 13 per cent increase in its domestic sales at 39,762 units last month compared to 35,305 units in July 2016.
\nA good monsoon, successful GST rollout and a good run-up to the festive season gives the company confidence of achieving rob<\/p>\n
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\nIn the commercial vehicles segment, Tata Motors said its domestic sales were up 15 per cent at 27,842 units last month following ramp-up of BS-IV production across segments.
\n"Passing on the benefits of GST to consumers by reducing the prices of its vehicles across all commercial vehicle segments has resulted in improved consumer sentiments," Tata Motors Head Commercial Vehicle Business Unit Girish Wagh said.
\nHinduja Group flagship firm Ashok Leyland reported a 14.19 per cent increase in total sales at 11,981 units in July as against 10,492 units in the same month last year.
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