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.
TATA MOTORS share price is trading up by 5% and its current market price is Rs 302. The BSE AUTO is up by 3.8%. The top gainers in the BSE AUTO Index are TATA MOTORS (up 5.2%) and M&M (up 6.8%).
TATA MOTORS DVR share price is trading up by 5% and its current market price is Rs 133. The BSE AUTO is up by 3.3%. The top gainers in the BSE AUTO Index are TATA MOTORS DVR (up 5.0%) and M&M (up 6.1%).
The BSE IT Index Down at 27,510 (down 3.6%). Among the top losers in the BSE IT Index today are COFORGE, AURIONPRO SOLN and ALLSEC TECHNOLOGIES. Meanwhile, the BSE Sensex has surged 0.3% to 48,315.
M&M share price is trading up by 5% and its current market price is Rs 790. The BSE AUTO is up by 1.7%. The top gainers in the BSE AUTO Index is M&M (up 5.1%). The top losers are TATA MOTORS and TVS MOTORS .
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