Car sales on a all time high in festive September

Car companies viz. Hyundai, Honda, General Motors and Ford sold many cars in September as buyers — lapped up cheap financing schemes offered by banks flooded with deposits. But Maruti, which accounts for about half the cars sold in India, missed the record as it suspended production of the Maruti SX4 sedan. Total car sales poped to over 1.53 L in September, from highest monthly sales of 1.29 lakh units reported in March 09, provisional numbers released by companies showed.

Consumers even purchased during shradh — that is considered an inauspicious period in the Hindu religion but sales actually spiraled up in the last ten days, with many of our models going off the shelf.“Money is coming into the system and the higher liquidity could result in even better volumes in October and set a bigger sales record in the domestic auto market,” said Ramnath Subramaniam, director (research) at capital market firm IDFC-SSKI Securities.

For Maruti Suzuki, which sells Maruti Swift and Maruti Alto, sales had rose to 11%, a six month high, against 64,682 cars a year earlier. Its exports surged 85%. In March sales of its once best-seller model Maruti 800 fell by 8%. The launch of Fiat Grande Punto and Fiat Linea boosted Tata Motors’ car sales. The company, which also sells Fiat’s models, said sales rose 23% to 20,743, including 2,567 units of Fiat from 16,829 last year same month. Tata Nano, the world’s cheapest car, sold 2,524 units.  Hyundai reached its best sales in 11-year history in the country. Domestic sales grew 25% to 27,803 cars, from 22,311 cars a year ago. Exports grew 9% to 26,001 cars.

Others whose car sales rose are: General Motors’ 49% to 7,654, Honda’s 87% at 5,794, Ford’s 50% at 3,405, Skoda’s 53% growth at 1,854,Mahindra & Mahindra’s 37% domestic sales to 21,961. Sales of motorcycles also jumped with Hero Honda selling 4% more at 4.01 lakh units, TVS Motors 4% higher at 1.42 lakh, Yamaha Motor doubled to 26,394, Suzuki Motorcycle gained 26% to 15,719 units. Bajaj Auto is yet to announce its sales figures for last month just like Toyota who has not yet revealed the sales figure too. Check out cardekho.com for latest information on new cars and used cars in India.

Read More on : Fiat Grande Punto India