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.

Like this


02 October 2017
Lynx Force Decisive Game 5 in WNBA Finals
Facing an end to their season, the Lynx were aggressive from the start, grabbing a lot of loose balls and dominating the glass. The Lynx nearly doubled the number of free throws - 30-16 - of Los Angeles , a testament to their overpowering performance.

02 October 2017
Barcelona vs Las Palmas: Gerard Pique describes win as worst professional experience
They face a Las Palmas side who are 15th with six points from six games and reeling from the resignation of coach Manolo Marquez. Diego Llorente scored in the 86th to help Real Sociedad avoid defeat in a thrilling 4-4 game against Real Betis.

02 October 2017
PM Pays Tribute To Mahatma Gandhi, Will Address Nation: 10 Facts
Gandhi took the initiative to come forward and work to change the perceptions of the British people against the coloured people. This place is also known as Birla House, the Gandhi Smriti is a museum dedicated to the "Father of the Nation".

02 October 2017
Hleb urges Arsenal fans: Don't give up on Alexis!
Wantaway Arsenal forward Alexis Sanchez is believed to be a transfer target for Serie A giants AC Milan , according to reports. Despite their impressive form in recent weeks, Owen insists the Gunners will not have a successful season this term.

02 October 2017
(LMT) Receives Average Rating of "Hold" from Brokerages
Tokio Marine Asset Management Co Ltd decreased Du Pont E I De Nemours & Co (DD) stake by 21.38% reported in 2017Q2 SEC filing. The aerospace company reported $3.00 EPS for the quarter, topping the Thomson Reuters' consensus estimate of $2.76 by $0.24.

02 October 2017
'Rick and Morty' fans rejoince! McDonald's to bring back Szechuan sauce
McDonald's made the announcement Sunday that select locations will carry a limited amount of Szechuan Sauce next Saturday, Oct. 7. The announcement of the sauce coincided with the season finale of " Rick and Morty ", which aired on Adult Swim on Sunday.

02 October 2017
Negotiating with NKorea a waste of time
The standoff has entered a new, more unsafe phase since then as Kim and Trump have exchanged personal insults and threats of war. North Korean officials have suggested that Trump's threats amount to a declaration of war.

02 October 2017
Ricky and Morty could get an extended fourth season
Meanwhile, co-creator Dan Harmon teased about the upcoming episode in a recent interview with Entertainment Weekly . Poopybutthole has promised that it will be "a really long time".

02 October 2017
Analysts See $1.90 EPS for Express Scripts Holding Company (ESRX)
ValuEngine lowered shares of Express Scripts Holding from a "buy" rating to a "hold" rating in a report on Friday, September 1st. Leerink Swann downgraded Express Scripts Holding Company (NASDAQ:ESRX) on Tuesday, January 19 to "Market Perform" rating.

02 October 2017
Boy killed, 5 injured as Pakistan violates ceasefire
The Indian forces have retaliated in equal measure. "Shelling and firing exchanges are going on", the sources added. Three civilians have got injured in Pakistani shelling as the country broke the ceasefire agreement once again.