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- Oct 23, 1999 - Car, M/HCV sales sustain growth
Car, M/HCV sales sustain growth
Passenger car sales have appreciated by 47% (year on year) in September, while medium and heavy commercial vehicles (M/HCVs) posted 79.6% rise in sales. This was reported by a leading financial daily. A 47% rise in passenger car sales reflects sustained demand growth. Industry sources reveal that car sales are being made to individual buyers as opposed to corporate houses, which implies that retail buyers are flocking to the market. Another factor that may have stimulated demand for cars is the recent spate of launches in the car segment. With more launches planned in the mid-car segment, the demand is likely to be sustained at the current level.
While market shares of all companies in the small car segment were not available, Maruti's sales figures imply that it has surrendered market share in small cars to Hyundai (Santro), Daewoo (Matiz) and Tata (Indica). Consequently Maruti's share has fallen from 66.7% (in April-July 1999) to 68.7% (in April-September 1999).
A 79.6% (year on year) rise in M/HCV sales affirms that the country is very much on the path of economic recovery. Increase in freight rates (after the diesel hike) has not dampened demand as was feared earlier.
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