INDIAN Industrial production up 10.9 pc in Jan
Contrary to expectations that car sales dip in December, Indian auto majors like Maruti Suzuki and Hyundai Motor India are poised to grow 30% in sales. As per report General Motors is looking at 70% to 80% increase in sales.
Car makers add that even though this month’s demand is on the low base of last year, the trend is unusually strong despite consumer being aware of the launch of new models over the next two quarters.
An executive from a top car producing company said that "Usually when new launches are expected, sales of the concerned segment gets impacted. Surprisingly, the momentum built over the last few months has been sustained this month. Even the year change effect on sales has been negligible."
Maruti Suzuki which has a domestic market share of 45%expects sales to hit 68000 to 69000 units this month, a growth of 33% over the same month last year.
GM India expects sales to rise 70 to 80% this month to 7000 units as compared with 4,041 units sold in the same month a year ago. The company would be launching the Beat a five seater compact car in the price band of INR 360000 to INR 420000 in January.
Korean car maker Hyundai Motors too is expecting the surge in demand to continue this month as well with a growth of 30% in domestic sales. Its sales had jumped by 92% last month to more than 28,000 units.
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