New launches, discounts and freebies failed to spur auto sales in August as rising loan rates and higher fuel prices kept buyers away from showrooms.
The industry is worried the lean period may extend into the festival season.
Maruti Suzuki India Ltd, the country’s largest car maker, reported a 13% fall in sales over a year ago to 91,442 vehicles in August, the company said in an statement. The disruption in production at its Manesar plant caused by labour unrest in end-August adversely impacted the sales numbers during the month, Maruti said.
“The inquiry levels are high. We are seeing footfalls in our showrooms, but they are not converting into sales. A turnaround will not be as fast as it was expected,” said Shashank Srivastava, chief general manager, marketing and sales, Maruti Suzuki.
At Hyundai Motor India Ltd, the country’s second largest car maker, sales inched up to 51,030 units in August from 50,633 a year ago. Tata Motors Ltd’s sales declined 2.84% to 64,078 units. Sales of its small car Nano, the world’s cheapest car, fell 85% to 1,202 units.
For more info. on this Please visit: http://indiancarz.com/YaBB.pl?num=1316356662
The industry is worried the lean period may extend into the festival season.
Maruti Suzuki India Ltd, the country’s largest car maker, reported a 13% fall in sales over a year ago to 91,442 vehicles in August, the company said in an statement. The disruption in production at its Manesar plant caused by labour unrest in end-August adversely impacted the sales numbers during the month, Maruti said.
“The inquiry levels are high. We are seeing footfalls in our showrooms, but they are not converting into sales. A turnaround will not be as fast as it was expected,” said Shashank Srivastava, chief general manager, marketing and sales, Maruti Suzuki.
At Hyundai Motor India Ltd, the country’s second largest car maker, sales inched up to 51,030 units in August from 50,633 a year ago. Tata Motors Ltd’s sales declined 2.84% to 64,078 units. Sales of its small car Nano, the world’s cheapest car, fell 85% to 1,202 units.
For more info. on this Please visit: http://indiancarz.com/YaBB.pl?num=1316356662
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