Festive boost for some auto makers, sales decline for others
The festive season this year has turned out to be a mixed bag for the automobile industry, with Maruti Suzuki and Mahindra & Mahindra posting good growth, while Hyundai Motor and Tata Motors witnessing their domestic sales declining in November.
In the two-wheeler segment, Honda Motorcycle & Scooter, India Yamaha and Suzuki Motorcycle witnessed a jump in their sales, while market leader Hero MotoCorp and TVS Motor's despatches went down last month.
In November, the country's largest car maker Maruti Suzuki India recorded domestic sales of 90,882 units compared to 82,870 units in the year-ago period, registering a rise of 9.67 per cent.
However, rival Hyundai Motor India's sales in domestic market declined marginally at 34,751 units compared to 35,000 units in the year-ago period.
The adverse market conditions due to high interest rates and inflation continued to pose challenges for growth. Increased diesel fuel price temporarily affected the strong momentum of diesel car sales," HMIL Vice President (Marketing and Sales) Rakesh Srivastava said.
Auto major Mahindra & Mahindra's passenger vehicles segment (which includes the UVs and Verito) registered an increase of 38.12 per cent at 24,604 units against 17,813 units in the year-ago month.
Commenting on the numbers, Mahindra & Mahindra Chief Executive (Automotive Division) Pravin Shah said: "We are happy to maintain our growth trend on the back of our portfolio of products especially the Quanto, which has crossed more than 12,000 bookings in just over two months."
However, rival homegrown auto major Tata Motors' total passenger vehicle sales in the domestic market stood at
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