Maruti sales up 14% in spite of demonetisation, Alto and WagonR lead growth
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Country's largest car maker Maruti Suzuki on Thursday reported an impressive growth of 14.1% in domestic sales for November in spite of demonetisation. While retail sales at dealerships have been impacted, wholesale volumes have risen as dealers had relatively lower inventory post Diwali. Also, models like Brezza and Baleno have had a waiting period for a couple of months.
The company sold 126,220 passenger vehicles in November in the domestic market, up 14.1%. Growth has been led by the mini (Alto and WagonR) and compact (Swift, Baleno and Dzire) segment. Exports, however, declined 9.8% to 9,225 units.
The surge in auto sales from Maruti Suzuki, which commands about 47% domestic market share, will help the industry report overall growth in November. In order to help retail sales post demonetisation, Maruti and other players are offering a 100% finance on cars through tie-ups with banks.
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