Indian vehicle sales rose in November due to robust demand and a low sales base last year, company figures showed Tuesday, pointing to a strengthening economy. Japanese-controlled Maruti Suzuki India, South Korea's Hyundai Motor and India's Mahindra and Mahindra all announced higher sales of cars and sports utility vehicles.
Maruti Suzuki India, the country's top passenger car maker, said sales rose 67 percent to 87,807 vehicles in November, from a year earlier, aided by strong domestic and overseas sales. Maruti, like other car makers, sold very few vehicles last November, as demand was hit by the global slowdown. Its passenger car sales rose 61.6 per cent to 76,106 units.
Hyundai Motor India announced record monthly sales of 55,265 vehicles in November, a rise of nearly 30 percent from a year earlier. “The economic scenario is positive, translating into higher automobile sales,” said Arvind Saxena, senior vice-president with Hyundai Motors India. Hyundai's domestic sales nearly doubled to 28,162, data showed.
Purchases of new vehicles traditionally rise during India's religious festival season which began in late September and will last until December. Many Indians regard the festival period as an auspicious time to make big purchases.
Mahindra, the top utility vehicle maker in India, said total sales soared 96 percent to 22,587 units year on year in November. Domestic sales of Mahindra automobiles rose 95 percent to 21,387 in November and exports rose 129 percent to 1,200 units.
Auto stocks rose at the Mumbai stock exchange, reacting to the data. Maruti rose 1.69 percent to 1,588.15 while Mahindra and Mahindra rose 4.84 percent to 1,078. Tata Motors , the country's largest vehicle maker, rose 6.03 percent to 700.75, ahead of its monthly sales data expected later in the day.