Small car segment reports buoyant growth in April - Views on News from Equitymaster

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Small car segment reports buoyant growth in April

May 3, 2000

As per a newspaper article the small car segment has reported a buoyant growth in sales in April'2000 as compared to April'99. Except for Maruti'800 which saw an erosion in sales in April'2000 and reported a decline of 17.1% YoY from 16,400 cars sold in April'99 to 13,596 cars sold in April'2000, other small car brands have performed very well. Maruti Udyog's other brands, the Zen and Wagon R together have reported a 50% growth in volumes in April'2000. This is due to introduction of Wagon R which added an additional 2,364 cars to total volumes sold during this month. Zen sales have gone up from 5,801 cars in April'99 to 6,335 cars in April'2000, a growth of 9.2% YoY.

Daewoo Motors sales in this segment have soared from 1,005 cars in April'99 to 5,067 cars in April'2000, a growth of 404% YoY. Hyundai's Santro sales have also improved to 5,631cars in April'2000 a growth of 59% YoY as compared to 3,531 cars in April'99.

The main reasons for higher growth in this segment can be cited as lower interest rates, availability of attractive car finance schemes, improvement in the economic scenario and pick up in the second hand car market due to professional advice being available. Another factor that could have contributed to the growth is the fact that many new cars models were introduced during the year and price increases have been minimal as competition is intense.

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