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Dec 13, 1999
Car sales surge to breach 500,000-mark
Passenger car sales over the period April-November 1999, have witnessed sales of 502,067 units. This is the first time that car sales have breached the 500,000-mark.
Passenger car sales of 502,067 units over the first eight months of FY2000 do not include utility vehicle (UV) sales of 120,000 units. If this figure is also included, car sales will exceed the 600,000-mark.
According to a news report in a leading financial daily, car sales have been averaging over 50,000 units since June 1999. Manufacturers are already witnessing rising demand for their products. For instance, Maruti is booked for most of its models for the entire month of December. In November, Tata's Indica also posted the highest ever monthly sales at 5,214 units, a 10% rise over October 1999. Other manufacturers like Hyundai (Santro, Accent) and Daewoo (Cielo, Matiz, Nexia) have also witnessed a demand surge for their products.
Rising passenger car sales is a reflection of the positive economic sentiment in the country. Increasing number of launches over the past few months have given the consumer a range of options. This has fuelled buying interest to a considerable extent, and there are no indications that this will wane.
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