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Passenger car sales zoom ...rise 91%

Dec 25, 1999

Passenger car sales continued to grow at a blistering pace in November 1999, as sales appreciated by 91%. The impressive growth of passenger car sales from 28,249 units last year (November 1998) to 54,079 units in November 1999 was fuelled by explosive growth of small car majors, Maruti (Zen, 800), Hyundai (Santro), Tata (Indica) and Daewoo (Matiz). Maruti in particular was most impressive with 72% sales growth (year on year). This was reported by a news report in a leading financial daily.

While Hyundai registered 102% sales growth, Daewoo posted 165% sales appreciation. Tata's sales were not strictly comparable with those of the previous year.

However, MNC majors (General Motors, Honda, Ford) have been unable to ride the boom in the car segment. In fact, as reported by a leading business daily, Mercedes Benz has turned potentially sick.

Sales breakup of Hyundai and Daewoo were not available. However, first impressions indicate that the small car seems to be driving growth in the passenger car segment, vis--vis the premium car segment. Another reason why the car segment is witnessing a huge sales growth is due to the launch of several new models (Accent, Baleno, Ikon) in the mid-sized car segment. With more launches in the offing (Alto, Corsa, Wagon R), the car sales graph will continue to head northwards.

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