Car and SUV sales in the red zone again in November
NEW DELHI: After breaking the 11-month sales decline in October, car and SUV sales again returned with negative figures in November, as wholesale deliveries to retailers declined due to buyer fatigue after the party and the addition of less inventory after settlement BSIV Models.
According to figures published by major auto companies, dealer sales continued under pressure as efforts to control inventories remain supreme. Except for Hyundai which had a 2% growth in numbers, the other important players had negative numbers.
Maruti Suzuki, the country's largest automaker, saw sales fell 3% in November and total volumes stood at 1.39 lakh units against 1.43 lakh in the same month last year. The company's model miniatures portfolio, such as S-Presso and Alto, decreased 12%.
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Mahindra also said that numbers normally remain subdued after the end of festivals. “The month post-festive season is historically a lean month for the automotive industry. Consumer demand, especially for passenger vehicles, typically picks up in the year-end that is in December. Therefore, we expect December to pan out better for the automotive industry, ”Veejay Ram Nakra, chief of sales and marketing (Automotive Division), said.
Retail sales had been healthy in October, as companies offered large discounts to attract buyers, while liquidating BSIV shares to stay out of the government's BSVI migration date of April 2020.
“Our sales figures are better than our plan for the month. We are in the last stage of our BSIV depletion and, consequently, supplies had to be optimized as we move towards the BSVI transition model by model sequentially, said Rajesh Goel, Director (Sales and Marketing) at Sling Cars India.
The companies say that government efforts to increase liquidity in the market and lower interest rates are having a positive impact on the market. However, slower economic growth and pressures on job creation remain a concern.