‘P. Sarojini’
Mumbai, India (CWBN)_ Maruti Suzuki, India’s largest carmakers posted their October month sales report on Sunday. The company reported that they achieved strong monthly sales and sold 182,448 vehicles in October, which is an increase of 19 per cent as compared to the corresponding period last year. The country’s biggest automakers’ achievement during this festive season signals that this demand could be a benefit to the country’s ailing economy.
The current coronavirus pandemic and the continuous lockdowns since March had hit the company’s sales, reporting a quarterly loss in July, for the first time since its listing in 2003.
India’s second largest carmaker Hyundai announced that they sold 56,605 vehicles last month, which is their highest ever domestic sales. The company reported their previous highest monthly sales in October 2018 when they sold 52,000 cars.
The popular sports utility vehicle maker Mahindra & Mahindra stated that compared to the previous year, their domestic sales of passenger vehicles increased by 1 per cent in October this year. Veejay Nakra, CEO of the company’s automotive division said in a press release, “For Mahindra, the festive season has started on a positive note with deliveries and bookings being higher than last year”.
Indian companies mostly expect a boost in sales during the festival season, especially in October and November. But, this year’s pandemic shutdown has also led to a pent-up demand. In spite of the pandemic, most of the car makers were able to achieve their sales target.
