Maruti Suzuki has announced the sales numbers for its True Value used car vertical which has registered growth at a time when the automotive sector witnessed its worst period ever. According to the numbers released by Maruti Suzuki, the overall used car market grew by 15-16% in the 2018-19 financial year, while Maruti Suzuki’s used car sales grew by 19%. Through their True Value vertical, Maruti Suzuki sold over 8 lakh units of the Alto, WagonR and Swift models in the last two years.
The used car market is said to be growing in Tier 2, 3 and 4 markets in India and Maruti Suzuki states that the demographics of their True Value customers range from the age group of 25-45 years. In this financial year from April to September 2019, Maruti Suzuki claims to have sold over 1.98 lakh units, registering a growth of 6% when compared to the vehicles sold by True Value in the same period from last year.
On the flip side of the domestic car sales figures in the same period between April to September 2019 paints a different picture for new cars in the domestic market. Maruti Suzuki’s domestic passenger car sales between that period recorded in a de-growth of -27% While in the month of September itself, saw a decline of 27.1% in domestic passenger car sales for Maruti Suzuki.
Recently, Maruti Suzuki celebrated the milestone for the Alto which crossed the 38 lakh unit sales mark this year and the fact that in its 19-year long history, the Alto has been the best selling car in India for the last 15 consecutive years.
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