Festive season bolster auto sales to a register positive 2012 October growth
Current festive season is a boon for car manufacturers as there has been and increase of 23% in car sales as compared to corresponding period…
Current festive season is a boon for car manufacturers as there has been and increase of 23% in car sales as compared to corresponding period last year. With this increase car markets have registered a 22 month high against a low base of last year. Throughout the industry, there were 172,549 deliveries as opposed to the 140,105 deliveries seen during October last year. Since Jan 2011, the auto industry has experienced superior growth of 25.27% as per details revealed by Society of Indian Auto Manufacturers.
During last year, riots and violence at Maruti‚Äôs Manesar plant led to the closing of the facility which resulted in decrease in production numbers. Growth during last years festive season was recorded as only 3.6%. For the festive season Maruti will be launching its Alto 800 for which it has received a considerable amount of bookings. Tata motors will also be offering its vehicles at subsidized rates during the upcoming festive season.
Renault has achieved sales of 6790 units during the month of October 2012. Two wheeler manufacturer Mahindra& Mahindra is riding on success of it Duro DZ and Rodeo RZ respectively. Yamaha too is doing well with sales of RAY scooter and Yamaha Limited edition Fazer. Hero Moto Corp too is doing well during the current festive season. However, hikes in fuel prices mainly that of diesel have forced many auto manufacturers to increase prices thereby staunching demand for vehicles to some extent.