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Wednesday, July 18, 2018

Car makers post improved sales in Jan; Maruti leads rally

Car makers heaved a sigh of relief in January as sale numbers recovered after months of negative or flat growth. The rally was led by Maruti Suzuki India Ltd which reported a growth in sales after seven months

Written by ENS Economic Bureau | New Delhi | Published: February 2, 2012 1:35:46 am

Car makers heaved a sigh of relief in January as sale numbers recovered after months of negative or flat growth. The rally was led by Maruti Suzuki India Ltd (MSIL) which reported a growth in sales after seven months.

Maruti Suzuki sold 1,01,000 units during January,a growth of 0.6 per cent against the corresponding month last year. In January 2011 the company had sold 100,000 units.

During the month Maruti’s exports registered a 54.3 per cent jump to 14,386 units against 9,321 units in the previous year. However,company officials downplayed the growth saying it is too early to spot any trend.

According to Mayank Pareek,managing executive officer (marketing and sales) at Maruti,the fourth quarter would see the highest sales in the fiscal despite a higher base in the corresponding quarter of the previous fiscal. He,however,added that he expected Maruti’s overall sales in 2011-12 to be around 11 per cent lower than the previous year. In the April-January period,the company’s sales declined 16 per cent.

On the back of much-improved Nano sales,Tata Motors became the second largest car maker for the month,overtaking Hyundai Motor India. The company’s sales jumped nearly 15 per cent to 34,669 units against 30,212 units in January last year. During the month,Nano sales increased to 7,723 units from 6,703 units,registering a growth of over 15 per cent. Meanwhile,Hyundai’s sales increased 12 per cent to 33,900 units. The company had sold 30,306 units in January 2010.

“The year seems to have started on a positive note and domestic sales are showing buoyancy. But we will have to watch how this momentum picks up,” Arvind Saxena,director (sales and marketing),Hyundai Motors,said.

Mahindra & Mahindra’s sales during the month jumped 16 per cent to 19,975 units from 17,208 units last year. The two-wheeler segment,too,continued to grow,though the percentage declined. Hero MotoCorp,the largest player,sold 5,20,000 units in January,a growth of 11.5 per cent from 4,66,000 units in the corresponding month last year. FE

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