Nov 2, 1999|
Car segment sales move into 5th gear
In September 1999, the overall passenger car segment witnessed 47% year on year sales growth. This was reported by a leading financial newspaper.
Despite the 47% surge in sales, the growth has not been uniform throughout the segment. For instance, car majors, Ford and General Motors, posted negative growth in September, while others like Daewoo (Cielo, Matiz, Nexia) and Hyundai (Santro, Accent) posted robust growth.
Daewoo's October sales continued from where they left off in September 1999, and the company has witnessed 14% surge in October sales as compared to September 1999.
Higher passenger car sales seems to indicate that there is no letup in demand and consumers continue to make purchases, especially in the small car segment. Some manufacturers like Daewoo and TELCO have hiked production to meet the increasing demand. With more launches planned by manufacturers, and the festive season round the corner, there is nothing to indicate that car demand will wane over the next month.
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