Tuesday, December 1, 2009

Indian Auto Market Experienced Improved Sales in November

With economic recession almost over, Indian auto market is now getting stronger gradually. In fact, auto sales in Indian market increased significantly in November. Major companies posted high growth percentage compared to the recession-hit November 2008. It is true that the growth is based on the poor sales of the same month last year when economic recession slowed down car sales in Indian market, but the optimism lies in the fact that the percentage rate of the growth is very high. So, Indian automakers can now be optimistic about Indian market next year.

Maruti Suzuki India Ltd., the largest automaker in India in terms of sales volume, saw 67% increase in its November sales as its total sales volume stands at 87,807 units. Domestic sales rose by 60%, while exports increased two-fold. The company has actually capitalized on the heavy demands of its small car models including A-Star, Alto, Wagon-R, Estilo, Ritz and Swift.

Hyundai India also experienced high growth last month. In fact, the Korea-based auto maker posted its highest November sales last month as its sales increased 29% to 55,265 units. Though its local sales rose 93% to 28,162 units, Hyundai India’s exports decreased by 5%.

In the two-wheeler market, Hero Honda scripted a 32% increase in November sales to 381,378 volumes. Having seen excellent sales growth last month, Hero Honda is now determined to reach its yearly sales target of 4.0 million units. Hero Honda’s rival in motorbike market, TVS Motor, posted 23% growth in its November sales to 120,844 units. However, its motorcycle sales decreased a little bit, even though the scooter sales rose 38% to25,115 units.

Related article:

Wall Street Journal

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