SUZUKI FAN

Maruti Suzuki posted its highest ever monthly sales in August 2010

During the month, Maruti Suzuki posted its highest ever monthly sales at 1,04,791 units, a 23.56 per cent increase from 84,808 units in August 2009. The company also posted its best figure so far for the domestic market at 92,674 units, a 32.47 per cent increase from 69,961 units in August 2009.

“With economic activities going strong, consumers’ spending powers have increased. It has helped boosting auto sales,” IDFC Securities Director (Research) Ramnath S told PTI. New models by the companies have also created excitement in the market and many of these have witnessed long-waiting periods for delivery, he added.

Homegrown auto major Tata Motors reported a 45.10 per cent increase in its domestic passenger vehicle sales at 25,196 units compared to 17,364 units in the year-ago month.

Another manufacturer Mahindra & Mahindra’s sales in domestic market jumped by 27.39 per cent last month at 27,275 units as against 21,410 units in the same month last year.

Carmaker General Motors India saw its sales climbing 33.71 per cent to 7,941 units in August compared to 5,939 units in the same month last year. Honda Siel Cars’ sales stood at 5,532 units, registering 38.75 per cent jump over 3,987 units in the corresponding month last year.

Another auto maker Toyota Kirloskar Motor reported 26.09 per cent jump in its sales at 6,361 units compared to 5,045 units in the corresponding month last year.

India will overtake China as the world’s fastest-growing major economy as early as 2013 as it adds six times more workers to its labor pool than its northern neighbor, according to Morgan Stanley.

India had eight cars per 1,000 people in 2009, compared with 435 in the U.S., 231 in Russia and 24 in China, according consulting firm Ernst & Young said in February.

Source: The Hindu and Businessweek

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