Auto sales continue to zoom ahead
With the margins squeezing on one end, the unit sales in the Indian market is surely on a roll on the other.
As Maruti became the first automaker in the Indian market to sell 1 lakh units in a month's time, Hero Honda on the other broke its own best of 4.16 lakh units in a month set in August 2009 by selling 4.35 lakh units in May 2010.
Shashank Srivastava, Maruti Suzuki's Chief General Manager (sales), said that the high economic growth of the country is helping the company a lot to gain high volumes in the Indian market.
Moreover, Srivastava also highlighted the fact that the company has been able to sell whatever it manufactures. Notably, sales of products like the Alto, the Swift, the DZire and the Eeco clocked their highest ever monthly sales in the last month for Maruti Suzuki.
Hyundai has been able to file a 7% growth in the last month. Though, the growth may look small as compared to Maruti but as its plant was closed for annual maintenance in the last month, it has taken its own toll. S. Ramnath, Head of research, IDFC-SSKI said that the growth momentum will grow till the festive season.
However, he also highlighted the fact that some companies may feel the pinch in outshining their high base set in the last year.