Automobile companies register double-digit growth in March

By: |
New Delhi | Published: April 2, 2018 4:46:46 AM

Automobile companies ended the year on a high note, registering a strong double-digit growth in the month of March compared to the same period last year as rural demand continued to grow

automobile sector, automobile industry, marutu suzuki, suv nixonTata Motors? passenger vehicle sales in the month grew by 31% in the month, owing to robust sales of its compact SUV Nexon. (Reuters)

Automobile companies ended the year on a high note, registering a strong double-digit growth in the month of March compared to the same period last year as rural demand continued to grow. Sales were also robust due to festivals like Gudi Padwa and Navratri, when people generally prefer to make their bookings.

Sales for India’s largest car maker, Maruti Suzuki, grew by 16% in the month, thanks to strong demand for its new Swift, which has crossed 1,00,000 bookings since bookings opened in January. Sales have also risen due to demand for its compact SUV Vitara Brezza which helped the company’s utility vehicle sales grow by 24% in the month year-on-year.

Tata Motors’ passenger vehicle sales in the month grew by 31% in the month, owing to robust sales of its compact SUV Nexon.

Even in the CV segment, the company saw a healthy growth despite the high base which was due to discounting seen last year in March as the government had banned the sale of BS III vehicles from April 1.

Get live Stock Prices from BSE and NSE and latest NAV, portfolio of Mutual Funds, calculate your tax by Income Tax Calculator, know market’s Top Gainers, Top Losers & Best Equity Funds. Like us on Facebook and follow us on Twitter.

Switch to Hindi Edition