November car sales saw another slump with market leader
Maruti Suzuki India Ltd (MSIL), arch-rival
Hyundai Motor India Ltd (HMIL) as well as diesel biggies Mahindra & Mahindra (M& M) and Tata Motors reporting a drop in sales.
MSIL posted 5.9 per cent decline in domestic sales to 85,510 units during the month. While its mini segment, including M800, Alto, A- Star and WagonR, grew by 3.7 per cent at 38,040 units, its compact models Swift, Estilo and Ritz declined by 24 per cent to 18,122 units in November.
Exports in November were down 46.2 per cent to 6,630 units from 12,318 units in the same month last year.
Similarly, HMIL saw its domestic sales down 3.6 per cent at 33,501 units during the month. HMIL senior vice-president (V- P), marketing, Rakesh Srivastava, said, "After the festival season, market has been sluggish due to unfavourable macro-economic factors and low market sentiment resulting in lower customer enquiries." General Motors India also reported an over 14 per cent decline in sales at 6,214 units in November. The company had sold 7,238 units in the same month of 2012. GM India V-P P. Balendran said that the market continues to remain sluggish due to unfavourable economic conditions and the company does not expect any improvement in the coming months.
Honda Cars India and Ford, however, reported a growth in sales on the back of their newly launched models Amaze and EcoSport respectively, but their turnover is much lower.
Honda Cars India sold 9,332 units during the month while Ford sales grew by 33 per cent to 7,909 units.
M&M saw 22 per cent decline in its domestic sales at 36,261 units. " After the festive month of October, the auto industry has turned to further degrowth and continues to remain subdued.
Unless some concrete measures are provided for its revival, we do not foresee any immediate turnaround," M& M chief executive, automotive division, Praveen Shah said. Tata Motors' domestic sales in November also slipped by over 40 per cent to 37,192 units in November while that of Toyota Kirloskar Motor also dipped to 10,208 units.
Courtesy: Mail Today
Special 
