The country’s largest car maker Maruti Suzuki has reported an increase of more than 10% in domestic sales during November on the back of higher demand due to Diwali.
Sales for the company that enjoys almost half of the market share in passenger vehicles grew 10.6% to 110,599 units, the company said in a statement. Exports saw a marginal growth of 1% to 10,255 units in the month. For the April-November period of the current financial year, the company’s domestic sales grew 13.9%. At the Bombay Stock Exchange, the company’s stock was trading at Rs 4,565, marginally down from its previous close.
Only Maruti’s mini segment, which comprises of Alto and WagonR, showed a decline, falling 4.7% during the month. The bulk of growth was led by the compact segment due to last month’s launch of the premium hatchback Baleno. The compact segment accounted for 40% of total domestic sales in November and grew by 19.5%.
A number of car makers are expected to report a decent increase in dispatches for November vis a vis same month last year due to Diwali. Last year, Diwali was in the month of October which made November a low base month.
