Auto Sales on a high in festival time

The country’s car makers led by market leader Maruti Suzuki posted quite huge sales figures in August, raising hopes for a great financial year. Even Hero Honda, largest bike-maker has registered similar results.

As the festive season in India is on the brink, industry executives and analysts think that the demand will likely to remain robust for the remaining part of the year on the back of declining interest rates on car loans and improved customer sentiment. Henceforth, “We expect increased number of enquiries and sales than the previous year,” said Arvind Saxena, senior vice-president (marketing and sales) with Hyundai Motor India.

Maruti Suzuki sold 69,961 cars in August. It also posted its highest ever exports, which almost trebled to 14,847 units from the year-ago period. A large chunk of the sales was recorded in the A2 segment that comprises Maruti Alto, Maruti Wagon R, Maruti Zen Estilo, Maruti Swift, Maruti A-Star and Maruti Ritz.

Hyundai Motor India posted a 13% jump in domestic car sales in August at 24,401 units, while exports rose by a modest 9% to 25,120 cars over the same month last year.

Tata Motors had sold 17,364 vehicles in August this year, 11% more than the last year. The company also sold 2,501 Tata Nano in August and sales figure of Indica jumped from to 9,598 cars. However, sales of its Tata Indigo sedan range dropped 41%, while the utility vehicles range comprising of Tata Sumo and Tata Safari dropped 22%.

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