As they report their sales for the month of May, Indian automobile companies see a rise in their share prices as all report an impressive increase in total units sold.
The largest manufacturer of cars in the country had reported a 26 percent growth in its total sales to 1.72 lakh units in May 2018 as against 1.37 lakh units in May 2017.
Maruti Suzuki's domestic sales were up by 24.9 percent to 1.63 lakh units from 1.3 lakh units in May last year, as per the company's statement. Its exports for the month of May were up by 48.1 percent to 9,312 units from 6,286.
Bajaj Auto registered a 30 percent growth in the month of May 2018 to 4.07 lakh units from 3.14 lakh units the same month last year. Its domestic sales rose by 29 percent to Rs 2.24 lakh units, while exports grew by 31 percent to 1.82 lakh units.
Tata Motors showed a massive rise of 58 percent growth in auto sales for the month of May 2018 with 54,295 units against 34,461 units for the same month last year. The company's domestic sales grew by a strong 61 percent to 17,489 units in May 2018 compared with 10,855 units in May 2017. Sales in exports however, fell to 3,699 units in the month reviewed from 3,900 units last year.