Easy loans, new launches extra up Nov auto sales
Easy loans, new launches extra up Nov auto sales
Riding on the back of a resurgent economy and easier way in to funds, auto sales in November remained firm, keeping in line with record numbers seen in recent months. Almost all the country's car companies posted strong sales figures for the past month.
Although sales were lower than in October, this did not come as a surprise to analysts. A Mumbai-based analyst said November is usually leaner after the end of festive season demand in October. He added that apart from easier availability of car loan, it was the excitement over new products that pushed demand further.
Maruti Suzuki, the country's largest carmaker, reported sales of 1,12,554 vehicles in November, a growth of 28.18 % from 87,807 units sold in the year-ago period. "For the second consecutive month, the company crossed 1 lakh unit's sales mark in the domestic market," the company said in a statement. Maruti saw sales of 1,02,503 units for the domestic market in November, a 34.2 % increase from 76,359 units in November, 2009.
Second largest car maker Hyundai Motor India reported a 12 % jump in domestic sales for the month at 31,540 units. The company had sold 28,162 units in the domestic market in November 2009. Total sales, including exports dipped 19.4 % with 44,542 units sold in November this year compared with 55,241 units in the same month last year. Sales for Tata Motors in November stood at 54,662 units as against 54,108 units sold in the year-ago period. Domestic sales of the firm stood at 35,079 units, a growth of 6.55 % from 29,408 units sold in the same month the previous fiscal.
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TVS Motor Company posted a 29 % growth in sales for the same period as the company said demand from all segments of its product portfolio remained robust. The company sold 1,57,041 units in November against 1,21,945 units in the same month of 2009. During the last month, two-wheeler sales of the company grew by 27 %, with sales of 153,882 units against 1,20,844 units registered in November 2009, it said in a statement.
Two-wheeler maker Suzuki Motorcycle India also reported a 77 % growth at 25,439 units sold in November compared with 14,393 units in the same month last year. "We have received very good response from the market to all our products...We are committed to continue this growth momentum in future," Suzuki Motorcycle India vice-president (sales and marketing) Atul Gupta said.
GM India recorded a 17.67 % jump in its sales to 8,376 units this year compared to 7,118 units in the same month last year.