Car sales hit new highs
The automobile industry witnessed another month of robust growth in September laying the perfect foundation for bumper sales during the festive season that begins next week. HT reports. Festive cheer starts earlyautos Updated: Oct 01, 2010 22:48 IST
The automobile industry witnessed another month of robust growth in September laying the perfect foundation for bumper sales during the festive season that begins next week.
Perhaps for the first time ever, heavyweights like Maruti Suzuki, Hyundai and TVS posted their highest-ever monthly sales last month despite the inauspicious 15-day shradh period when customers normally defer purchases. With the demand at all-time highs, everybody is scrambling to increase production and build inventories.
"From October, we will be producing around 1.08 -1.1 lakh cars per month, that is a 27 per cent increase over what we were selling last year," said R.C. Bhargava, chairman, Maruti Suzuki India Ltd. "Despite the shradh period, the industry has grown very strongly and demand continues to be very firm."
Maruti led the growth with a 33 per cent increase in sales. Its cumulative sales, inclusive of exports stood at 1.08 lakh units, only the fourth time its sales have crossed the 1 lakh mark in a month.
Arch rival Hyundai also grew by 14 per cent to 31,751 units, its highest ever monthly figure. With the new i10 that was launched last week and a premium SUV Santa Fe to come, Hyundai may touch another high soon. "It is heartening to see the market on a growth trajectory and this has reflected in our sales as we achieved the highest ever domestic sales since inception in 1998," said Arvind Saxena, director — marketing and sales, HMIL.
First Published: Oct 01, 2010 22:42 IST