Car-makers ride the festive spirit; Maruti sales up 21%
By fe Bureaus
Car-makers have reported healthy numbers for the festive month of October, courtesy new launches and discounts. Domestic sales of Maruti Suzuki India, the country s largest passenger car producer, jumped by 21% to 71,551 units compared with 59,127 units in October last year the month that followed the Lehman Brothers collapse. Sales of Hyundai Motor India, the second largest carmaker, surged 41.4% in the domestic market in October this year at 28,301 units vis- -vis 20,009 units. Tata Motors (TATAMOTORS.BO : 634.85 -8.85), the third largest player, reported a 17.6% increase in its October sales at 20,011 unit vis- -vis 17,014 units in October last year while sales of Honda Siel Cars India jumped by 346% because of a low base at 6,909 units last month compared with 1,546 units in the same month last year. Industry experts feel this kind of growth in the last two months could be a turning point for the Indian automobile industry that had flat growth in 2008-09. While complied data from the Society of Indian Automobile Manufacturers (Siam) for October is yet to be released, it is expected that the overall passenger car industry will grow in double-digits, continuing the growth momentum of September. According to Siam, the passenger car segment grew by 20.6% in September at 1,29,683 units as compared with 1,07,517 units in the corresponding month last year while the overall automobile industry in India grew by 9.6% at 10,92,262 units. This is in line with Siam s revised projection of a minimum 10% growth for 2009-10 which would result in total sales surpassing the 10-million mark for the second time and would be the highest ever for the Indian automobile industry. The festive period of the last two months generated strong sales and has given the Indian automobile industry some respite from the sluggish performance of the last few months, and now it looks that this period of strong sales would propel the industry into a positive double-digit growth for the remainder of the year. This might be the turning point the Indian automotive industry has been waiting for, Arvind Saxena, senior vice-president (sales and marketing), Hyundai Motor India said. Driving high on the recently launched Ritz and A-Star, the total sales of Maruti (domestic and export) went up by 32.4% at 85,415 units vis- -vis 64,490 units in October last year. Likewise Hyundai s maiden launch this year, the i20, and the new Santro have helped the company register an overall increase of 11% in sales at 51,736 units as against 46,596 units in October last year. Growing consumer optimism coupled with an array of new launches by us during the festival season catapulted our sales for the month, Jnaneswar Sen, vice-president (marketing), HSCI, said. The Indian automobile industry has recovered at a pace beyond expectations and the stimulus package by the government as well as lower interest rates has helped the industry to bounce back to double-digit growth even when developed countries in Europe are struggling to achieve 5% growth despite the scrappage incentives being offered by the various governments in the European Union, a Mumbai-based analyst added. Even two-wheelers continued to maintain the positive growth with Bajaj Auto (BAJAJAUTO.NS : 2101.05 0), the country s second largest two-wheeler manufacturer, registering a growth of 51% last month at 2,49,974 units vis- -vis 1,65,477 units. Sales of Yamaha Motor went up by 44% at 26,879 units as compared to 18,614 units in October 2008.
Quotes delayed, except where indicated otherwise.
Delay times are 15 mins for BSE and NSE(when not logged-in) See also delay times for other exchanges.
All information provided "as is" for informational purposes only, not intended for trading purposes or advice. Prior to execution of any security trade, you are advised to consult your authorized financial advisor to verify the accuracy of all information. Neither Yahoo! nor any independent provider is liable for any informational errors, incompleteness or delays or for any actions taken in reliance on information contained herein. By accessing the Yahoo! site, you agree not to redistribute the information found herein.
), the third largest player, reported a 17.6% increase in its October sales at 20,011 unit vis- -vis 17,014 units in October last year while sales of Honda Siel Cars India jumped by 346% because of a low base at 6,909 units last month compared with 1,546 units in the same month last year. Industry experts feel this kind of growth in the last two months could be a turning point for the Indian automobile industry that had flat growth in 2008-09. While complied data from the Society of Indian Automobile Manufacturers (Siam) for October is yet to be released, it is expected that the overall passenger car industry will grow in double-digits, continuing the growth momentum of September. According to Siam, the passenger car segment grew by 20.6% in September at 1,29,683 units as compared with 1,07,517 units in the corresponding month last year while the overall automobile industry in India grew by 9.6% at 10,92,262 units. This is in line with Siam s revised projection of a minimum 10% growth for 2009-10 which would result in total sales surpassing the 10-million mark for the second time and would be the highest ever for the Indian automobile industry. The festive period of the last two months generated strong sales and has given the Indian automobile industry some respite from the sluggish performance of the last few months, and now it looks that this period of strong sales would propel the industry into a positive double-digit growth for the remainder of the year. This might be the turning point the Indian automotive industry has been waiting for, Arvind Saxena, senior vice-president (sales and marketing), Hyundai Motor India said. Driving high on the recently launched Ritz and A-Star, the total sales of Maruti (domestic and export) went up by 32.4% at 85,415 units vis- -vis 64,490 units in October last year. Likewise Hyundai s maiden launch this year, the i20, and the new Santro have helped the company register an overall increase of 11% in sales at 51,736 units as against 46,596 units in October last year. Growing consumer optimism coupled with an array of new launches by us during the festival season catapulted our sales for the month, Jnaneswar Sen, vice-president (marketing), HSCI, said. The Indian automobile industry has recovered at a pace beyond expectations and the stimulus package by the government as well as lower interest rates has helped the industry to bounce back to double-digit growth even when developed countries in Europe are struggling to achieve 5% growth despite the scrappage incentives being offered by the various governments in the European Union, a Mumbai-based analyst added. Even two-wheelers continued to maintain the positive growth with Bajaj Auto (
