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Mid-sized car sales dip in October - Views on News from Equitymaster
 
 
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  • Nov 24, 1999

    Mid-sized car sales dip in October

    Car sales in the mid-car segment fell 37.4% in October 1999, over September 1999. This was reported by a leading financial newspaper.

    Mid-sized car sales had performed exceedingly well since April 1999, with a little blip in July 1999. Sales volumes in September 1999 surged ahead by 33% (YoY). Given the robust growth in September, October sales were not really expected to maintain the blistering tempo. A dip in volumes was expected by industry experts. Experts opine that another reason why buying interest could be waning is due to postponement of purchases in the new millenium.

    The only two brands to have crossed the 1,000 mark in October are Esteem (Maruti) and Ambassador (Hindustan Motors). While Esteem reported a 26.0% decline in sales, others have fared far worse. Cielo (down 54.0%) and City (down 54.8%) were the most affected.

    However, Esteem sales seem to be unaffected by the increasing competition. Priced at around Rs 600,000, the affordability factor seems to have played a crucial role in Esteem sales. Another equally important reason is Maruti's extensive after-sales service and availability and affordability of spares.

    However, with lower priced cars in the fray now - Hyundai Accent and Ford Ikon, Esteem could witness some pressure on sales in future. However, new entrants will have to match Maruti's sales service and distribution network if they want to make a dent in its market share.

     

     

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