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Maruti impresses with 76% growth - Views on News from Equitymaster
 
 
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  • Dec 2, 1999

    Maruti impresses with 76% growth

    The passenger car segment has witnessed an upswing in November sales, with Maruti in particular leading the charge with 76% sales appreciation.

    Newspaper reports reveal that Maruti clocked sales of 32,115 units (18,241 units in November 1998), outperforming competitors with a 76% volume growth. However, that is not to say that others haven't fared well. TELCO (Indica) posted sales of 5,214 units (up 9.9%), Daewoo (Matiz) clocked sales of 3,139 units (up 7%), while Hyundai (Santro) sales at 6,301 units appreciated 1.5%.

    Impressive sales by car majors in November has come as a surprise to industry sources. Many were of the opinion that sales would decline in November and December as customers have the tendency to post-pone sales in the last few months of the year over the to the next year.

    What seems to have induced purchases in November is the fear that manufacturers may hike prices in the next year due to increased input costs on compliance with the Euro-II norms.

    Maruti's November 1999 sales growth mirrors its performance in the previous month (October) when sales also appreciated 24%. Maruti's brands (Maruti Zen, Omni) performed exceedingly well. Omni in particular more than doubled its sales to 7,518 units, while the Zen posted 40% sales growth to 7,226 units.

    Maruti seems to be holding up its own pretty comfortably, while the opposition is still posting single-digit growth. The company has allayed fears about wilting to competition. It is the competition that is struggling to break Maruti's stranglehold on the Indian car market.

     

     

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