Millennium Post

Nov car sales zoom 9.5% after two months of decline

Nov car sales zoom 9.5%  after two months of decline
Domestic car sales in November stood at 1,56,445 units, up 9.52 per cent, as compared to 1,42,849 units in the same month of 2013, according to the data released by Society of Indian Automobile Manufacturers (SIAM).

"Sales have grown in November as the overall sentiment has improved due to overall cost of ownership having come down with the lowering of fuel prices and benefits of reduced excise duty continuing," SIAM Director General Vishnu Mathur told reporters here.

Car sales have been fluctuating this year with various ups and downs and in order to "really kickstart" the growth steps like excise duty relief extension beyond December 31 and interest rate cut are required.

"Hopefully, we are on a recovery path. If you want it deep-rooted, interest rate cut is required so that people sitting on the fence start buying," Mathur said.

He said that if these steps are taken then "we will see some growth next fiscal".

"We hope that the government extends the excise duty relief till February, till the Budget," Mathur said, adding that discontinuation of the relief would affect recovery in the sector.

Car sales in the country grew from May to August this year after a prolonged slump which lasted over two years. The sales, however, declined 1.03 per cent in September and by 2.55 per cent in October.

In November, market leader Maruti Suzuki India posted a growth of 14.87 per cent in domestic passenger car sales at 82,306 units as against 71,649 units in the same month last year.

Rival Hyundai Motor India saw its sales grow by 6.04 per cent to 35,448 units as compared to 33,427 units in the same month last year.

Honda Cars India witnessed a rise of 24.72 per cent in domestic sales of its passenger cars at 11,612 units as against 9,310 units in the year-ago month.

Homegrown auto major Tata Motors' sales increased 30.03 per cent at 10,286 units as against 7,910 units in November 2013, while utility vehicles major Mahindra & Mahindra's sales during the month declined by 16.22 per cent to 13,613 units as against 16,249 units last year.

Motorcycle sales last month declined 3.05 per cent to 8,53,254 units from 8,80,078 units a year earlier, according to SIAM data.

"Motorcycle sales have been hit as rural sales have been impacted by weak monsoon. It is the scooter segment which has been during the growth of two-wheeler segment," Mathur said.  Market leader Hero MotoCorp saw its sales dip 1.5 per cent to 4,58,481 units as against 4,65,505 units in the same month last year.

PTI

PTI

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