Vehicle sales rose in January from a year earlier, boosted by a low base in the year-ago period because of the impact of the government's decision to withdraw high-value banknotes in November 2016. A recovery in demand in rural and semi urban markets also aided vehicle sales. In the PV market, rise in vehicle prices at the start of the year has applied the speed-breaker, while the CV and two-wheeler segments have been riding the wave of infrastructure development and recovery in the rural sector post two consecutive years of good monsoons. MSIL reported a 5% increase in dispatches on the back of high base last year because of demand for its Baleno (premium hatchback) and Vitara Brezza (a compact SUV) models. The company's dispatches of cars to dealers were, however, affected by a shutdown in some of the company's plants for yearly maintenance. Sales of M&M grew 32%. Tata Motors that has been having a neck to neck battle with Honda Cars India for the fourth slot registered a strong sales performance in passenger vehicles sales at 20,055 units, a step up of 55%. The company piggybacked on rising demand for its new models -the Tiago and Tigor along with the Nexon and Hexa that have been firing on all cylinders in the utility vehicle segment. In 2W Space, HMCL, BAL, TVSL and RE reported a growth of 32%, 46%, 31% and 32% respectively. With continuously increasing customer acceptance of the Tata Range of BS-4 vehicles with superior SCR Technology, the M&HCV segment of Tata Motors grew by 12.5%. While M&HCV sales of Ashok Leyland grew 13% in the month. Increased demand for trucks led by restrictions on overloading, fresh tenders in the car carrier and petroleum sectors as well as coal and cement movement triggered by on-going infrastructure projects bolstered the growth in the segment. However, the growth was lower than expected owing to challenges arising out of supply constraints on key aggregates for both the players.
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