Auto shares rise on strong April sales numbers

MSI said sales of mid-sized sedan Ciaz declined by 27.2 per cent to 5,116 units during the month

MSI said sales of mid-sized sedan Ciaz declined by 27.2 per cent to 5,116 units during the month

Sales at Tata Motors, India's biggest auto firm by revenues, grew robustly at 34 per cent at 17,235 units as against 12,827 units a year ago.

According to figures released by the auto firms on Tuesday, MSI's domestic sales stood at 1,64,978 units in April, up 14.2 per cent from 1,44,492 units sold during the same month a year ago, fuelled by strong sales of compact segment cars. The compact auto segment, comprising the Baleno, Swift and Ignis hatchbacks, led the way with a 31.85% growth over a year ago to 83,834 units.

Hyundai Motor India posted 4.4 per cent rise in domestic sales at 46,735 units last month as compared to 44,758 units in April 2017. However, Ford posted a single-digit fall in sales in the month.

Maruti Suzuki, the country's largest passenger auto maker, reported a 13.37% jump in sales from a year earlier to 147,548 units.

MSI said sales of mid-sized sedan Ciaz declined by 27.2 per cent to 5,116 units during the month. It sold a total of 13,037 units and exported 834 units of the Etios series, thereby clocking a total of 13,871 units, the company said in a statement.

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Tata Motorsregistered a growth of 86% at 53,511 units in April 2018 as against 28,844 units in April 2017 due to the continued strong sales performance of its commercial and passenger vehicles business in the domestic market.

In addition, Mahindra and Mahindra (M&M) reported a rise of 22 per cent in its monthly sales for April 2018. The bellwether of the Indian passenger vehicle industry clocked 13.40 per cent growth, selling 163,434 units in April, up from 144,081 units it sold a year ago.

Segment-wise, sales of domestic passenger vehicle category which includes utility vehicles, cars and vans stood at 21,927 vehicles as against 19,391 vehicles sold during April 2017, registering a growth of 13 per cent. The company had sold a total of 151,215 units in April 2017.

The company had sold a total of 2,46,310 units in the same month of the previous year.

Shares of Indian auto companies, including Tata Motors Ltd and Muruti Suzuki India Ltd, rose on Wednesday after they reported strong April sales numbers.

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