Undeniably, the hottest topic all over the news for the past fortnight was the demonetisation scheme where the government made the old 500 and 1000 rupee notes worthless in order to crack down on black money among other reasons.
The aftermath of this surgical strike in the finance world left several car makers in a tizzy with their monthly sales figures plummeting. Interestingly, Maruti Suzuki seems to have been immune to everything that transpired recently. The company sold a total of 1,35,550 units in November 2016, growing 12.2% when compared with the same period of last fiscal. This includes 1,26,325 units in the domestic market and 9,225 units of exports. Maruti Suzuki had sold a total of 1,20,824 units in November 2015.
In the month of November this year, the only cars from the Maruti Suzuki model range that showed a decline in sales were the Swift Dzire Tour (-10.3%) and to a minor extent, the Omni and Eeco (-1.6%) and the Ciaz (-1.4%). All other vehicle groups in the Maruti fleet registered increases between 8.1% and 98%. Exports of the company took a dip from 10,225 units in November 2015 to 9,225 units in November this year, which is a drop of 9.8%. Domestic sales of passenger vehicles, on the other hand, rose by 14.1%. All things considered, we expect to see the automotive sector returning to normalcy within the last quarter of this financial year.