Economy

Maruti Suzuki sales rise 9.3% in September

Maruti Suzuki sales rise 9.3% in September”

Sales of cars, televisions and refrigerators increased more than 15 per cent this Navratri and Dussehra from a year ago, pointing to bumper business in the run-up to Diwali and calming concerns that the currency swap and the goods and services tax (GST) will have a prolonged impact on consumer sentiment. According to market analysts, manufacturers generally expect a 20-25 per cent sales growth for September.

Over the next three years, Maruti Suzuki dealers will invest around Rs 800 crore up upgrade the 700 showrooms in cities, 650 in smaller towns and 650 rural outlets.NEW DELHI: Country's largest vehicle maker Maruti Suzuki India today posted 9.3 per cent growth in total sales at 1,63,071 units in September 2017, the company said in a statement. The company, however, said its mid-size model, Ciaz, witnessed a de-growth of 14% in the month, affected by the launch of Hyundai's next generation Verna.

The Vitara Brezza, Maruti's compact SUV model, increased utility vehicles sales by 8%. The sales grew on the back of strong ramp-up in production, growing demand for new product launches and higher customer uptick owing to peak festive season buying trends across segments.

"Nonetheless, positive pull of the festival season, a good monsoon and a buoyant equities market helped the volume growth", he said.

Tata Motors too had a good September with the company selling 17,286 units and growing by 18 per cent over September 2016. The first was in October past year.

Furthermore, the parent company, Suzuki Motor Corporation, has recently announced a fresh investment of Rs 3,800 crore in the plant to add a third line. "With the festive purchase on full- swing, our sales outlook for the season is very promising", he said. This segment witnessed strong growth in demand on the back of continuously increasing acceptance of Tata Motors' SCR technology, infrastructure development led by government funding and restrictions on overloading creating greater demand for new high tonnage vehicles, especially for our new launches of 37T multiaxle trucks and 49T tractor trailers. Volumes have continued to improve for auto manufacturers after June, when the companies had posted poor sales figures owing to the de-stocking at the dealerships ahead of the transition to the goods and services tax in June.

According to Hyundai Motor India, its September domestic sales rose to 50,028 units from 42,605 units sold during the corresponding period of past year. "With the festival season, consumer sentiment continues to remain positive".

In a statement, Mayank Pareek, president (passenger vehicle business) at Tata Motors, said the Nexon "has received an encouraging response across markets".

Toyota, however, grew only 2 per cent. Most of the automakers were expected to push inventory ahead of Navratri and Diwali and, thankfully, the impact of increased cess had mostly been limited to big cars. "We are happy that our customer demand had minimum impact of the cess hike and the festive season has ushered in positive growth in domestic sales", said N Raja, director and senior vice-president (sales and marketing).

The Korean-based company is now mulling expanding its manufacturing capabiities in India as the high base effect put a serious restraint on its growth.



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