Car sales September: Maruti Suzuki, Mahindra & Mahindra report rise, others dip
- Winter session Day 1: Govt talks about misuse of word 'secularism', Sonia raises 'intolerance' debate
- Sheena murder: CBI seeks Interpol help, Peter Mukerjea's custody extended till Nov 30
- PPCC chief Bajwa and Jakhar made to resign as rejig in Punjab Congress imminent
- Constitution Day: The many reasons why the BJP decided to celebrate it
- India-Pakistan series to be played from December 15 in Sri Lanka: Rajiv Shukla
The build up to festive season failed to lift sales of top car companies in September with only Maruti Suzuki and Mahindra & Mahindra reporting increase in their domestic despatches.
While Maruti Suzuki posted 13 per cent rise, Mahindra & Mahindra's sales went up 22 per cent in September. On the other hand, Hyundai Motor and Tata Motors saw their sales going down by 14 per cent and 18 per cent respectively.
Toyota Kirloskar Motor and General Motors too witnessed decline in sales by 5 per cent and 27 per cent respectively.
Ford India's sales dipped marginally in September 2012.
Market leader Maruti Suzuki India recorded domestic sales of 88,801 units compared to 78,816 units in the year-ago period, registering a rise of 12.67 per cent.
Rival Hyundai Motor India Ltd (HMIL)'s domestic sales stood at 30,851 units compared to 35,955 units in September last year, down 14.2 per cent.
Commenting on the sales performance, HMIL Vice President (National Sales) Rakesh Srivastava said: "We expect the suppressed demand would improve on account of festive purchases as the demand peaks during this period."
Homegrown auto major Tata Motors' total passenger vehicle sales in the domestic market stood at 21,652 units in September, down 17.73 per cent from 26,319 units in the same month last year.
Rival and utility vehicle major Mahindra & Mahindra's (M&M) passenger vehicles segment (which includes the UVs and Verito) registered 22.43 per cent increase at 23,808 units as against 19,447 units in the year-ago month.
"We are happy with the performance and growth that we have achieved during September 2012 over the festive season month of September 2011," M&M Chief Executive (Automotive Division) Pravin Shah said.
Post reduction in CRR, banks have started cutting lending rates and are also looking at reducing vehicle loan rates, he added.
- Why every patriot should be worried, and, yes, ashamed
- Douglass North emphasised institutions when markets were the focus
- ‘Bovine Divine’ controversy lurched between the horrific and the comic
- PM Modi’s achievements abroad appear to cut little ice back home
- Post 13/11 sloganeering at Antalya and Kuala Lumpur won’t be enough
- Can Parliament be insulated from the vagaries of the political climate?