Post lacklustre sales in the festival season this year, November seems to have brought some cheer to the automobile industry. Sales of major two-wheeler and passenger car companies saw an uptick.
Maruti Suzuki India Ltd sold a total of 1,10,147 units in November 2014 compared with 92,140 units in November 2013. This includes 1,00,024 units in the domestic market and 10,123 units of exports, the company said in a statement.
General Motors India , however, saw a decline in sales. It sold 4,157 vehicles in November 2014 against 6,214 units sold in the corresponding period last year. The numbers also include 150 units of exports to Chile.
P Balendran, Vice-President, General Motors India, said, “Even though the lower fuel prices are encouraging, the interest rates remain sticky and inflation continues to be high. Discounts are at their peak and sales of diesel vehicles are tapering off as the price differential between the two fuels is dropping sharply. Going by the market scenario, we expect the challenging times to continue till some major announcements take place in the budget to improve customer sentiment.”
Among two-wheeler companies, TVS Motor Company posted 36 per cent higher sales, from 1,61,908 units recorded in November 2013 to 2,20,046 units in November this year.
Royal Enfield too recorded sales of 27,542 units in combined domestic wholesale and exports in November 2014, a 52 per cent growth over the same period last year, according to a statement from the company.
M&M bucks trend
>Mahindra & Mahindra Ltd (M&M) has sold 34,292 vehicles in November , a 12.64 per cent fall from 39,254 units sold during the same month last year.