Maruti, Hyundai Post Double Digit Sales Growth in November

New Delhi: Maruti Suzuki India, the country's largest carmaker, rival Hyundai Motor India and utility vehicle major Mahindra & Mahindra posted double-digit growth rates in sales last month while others like Honda Cars and Toyota saw a decline in the figures.

Maruti Suzuki India said its domestic sales rose 10.6 percent last month to 1,10,599 units as against 1,00,024 units in November 2014.

Sales of the company's small cars, including Alto and WagonR, declined 4.7 percent to 35,981 units compared with 37,746 units in the year-ago month.

Rival Hyundai Motor India also saw its monthly domestic sales rising to 43,651 units last month compared with 35,511 units in November 2014 - an increase of 23 percent.

"Hyundai achieved cumulative 4 million domestic sales milestone with strong performance of 43,651 units this month, growing by 23 per over last year, on the strength of strong demand for its new age youthful product portfolio, led by CRETA, i20, Grand i10 and good festive season," Hyundai Motor India senior vice-president (sales and marketing) Rakesh Srivastava said.

Mahindra & Mahindra's domestic sales were up 23 percent at 39,383 units last month as against 32,100 units in November 2014.

"The festive season, coupled with new product launches as well as moderation in interest rates, has seen the auto industry post a positive growth during the last couple of months," M&M chief executive (automotive division) Pravin Shah said.

The speedy implementation of GST (Goods and Services Tax) will help and have a long-term impact on the competitiveness of Indian auto industry, he added.

Ford India's domestic sales were at 8,773 units last month, up 54.97 percent from 5,661 units a year ago. Driven by strong response for its entry level car Kwid, French auto firm Renault reported an over two-fold jump in sales at 7,819 units in November. It had sold 3,201 units in November last year.

However, Honda Cars India Ltd (HCIL) reported a 3.61 percent decline in its domestic sales at 14,712 units in November. It had sold 15,263 units in the same month last year.

Besides, Toyota Kirloskar Motor (TKM) also reported a dip in sales in the domestic market. The company sold 10,278 units during the month as against 12,175 units in November last year, down 15.58 percent year-on-year.

Commenting on the November sales, Abdul Majeed, partner, Price Waterhouse, and an auto expert, said, "OEM with the attractive prices and new launches as well as external positive factors such as low interest rates, low fuel prices and pent up demand are helping the auto industry to register robust growth."

"With the positive economic outlook, auto industry will grow. However, there are two key risk factors going forward which might impact the growth; one is subdued rural demand and second is potential increase in inflation," he added.

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Source: PTI