Let’s talk about the sales numbers of automobile majors on a year-on-year basis.
We will be comparing numbers for the year ending in March 2020 and the year just closed a couple of days ago i.e. March 2021.
Last year’s March was a time when the pandemic panic was beginning and a nation-wide lockdown became a reality.
Now, most of us seem to have survived the pandemic even if most of us are financially in trouble. However, the stock markets are near lifetime highs (Nifty is near 15,000 while Sensex is near 50,000).
Mahindra & Mahindra sold much more than the 6,679 units sold in the year-ending March 2020. The company claims that the growth in sales in March 2021 has been unprecedented. In the utility vehicles sector, this company sold 16,643 vehicles in March 2021 compared to 3,111 in March 2020.
Also read: Punjab Government claims commendable improvement in revenues
Maruti Suzuki posted an impressive 99% growth in its sales. The company sold 167,014 vehicles in March 2021 compared to 83,792 in March 2020.
Ashok Leyland sold 17,231 vehicles in March 2021 as compared to 15,105 in March 2020.
All in all, one wonders could these numbers indicate that the lull due to the pandemic COVID19 is finally over and we can look forward to pre-COVID economic activity?