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Maruti beats slowdown logging 4.5% increase in Oct sales
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SME Times News Bureau | 02 Nov, 2019
Riding on the back of festive season demand and wide product portfolio,
Maruti Suzuki managed to reverse negative trend in car sales in October
but many of its rivals and bike makers continued to witness decline in
sales.
Maruti sold a total of 1,44,277 units (inclusive of OEM
sales) during October, 2019 in the domestic market recording a 4.5 per
cent growth over the same month a year ago. While it witnessed decline
in sales of mini cars such as Alto and S-Presso, the compact segment
including New WagonR, Celerio, Ignis, Swift, Baleno and Dzire posted a
healthy growth of 16 per cent year-on-year.
Close rival and
Korean carmaker Hyundai India sold 50,010 units in domestic market
during October this year, down 3.6 per cent compared to 52,001 in the
same month a year ago.
Honda Cars India continued to post
negative growth selling 10,010 units in October, 2019 compared to 14,187
in the same month last year.
"The festive season was rewarding
for the auto sector after a prolonged slowdown. The high discounts and
other festive offers provided by automakers across the industry resulted
in positive consumer sentiment. At Honda, we also saw an increased
sales momentum as compared to last few months and are hopeful that this
trend will continue in the following months," said Rajesh Goel, Senior
Vice President and Director - Sales and Marketing, Honda Cars India.
Another
leading automaker Mahindra and Mahindra (M&M) reported a 23 per
cent decline in passenger vehicle (PV) segment which comprises Bolero
and XUV in the month of October. It sold 18,460 vehicles in October
2019, compared to 24,066 vehicles in October, 2018.
Commercial
vehicle (CV) major Ashok Leyland Ltd also continued to post lower sales
number in the wake of prolonged economic slowdown. In a statement on
Friday, the company said that it had logged a total sales of 9,857 units
in October this year, down 35 per cent as compared to 15,149 units sold
in October 2018.
All the leading bikemakers saw their sales
falling despite festive season discounts. Two-wheeler (2W) market leader
Hero MotoCorp on Friday reported 18.43 per cent decline in total sales
at 5,99,248 units in October. The company had sold 7,34,668 units in the
same month last year.
Rival Bajaj Auto has reported a 14 per
cent decline in its sales of motorcycles in the month of October this
year. The Pune-based company could sell 2,42,516 units of motorcycles
during October in the domestic market as against 2,81,582 in the same
month last year.
"Sales trends have been better in October in
comparison to previous months. Our channel checks indicate retail
volumes were higher in the festive season for PV, 2W and Tractor
segments, while CV volumes remain weak due to high base and surplus
capacity with transporters. Wholesales have been below retails, as OEMs
are focusing on reducing dealer inventories to ensure smooth BS6
transition," said an analyst from brokerage firm Emkay.
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As on 13 Aug, 2022 |
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