MUMBAI (Commodity Online): December 2011 was a good month for the automotive makers in India as domestic car sales had gone up 7.25%.
The growth is mainly due to the high amount of discount offers for petrol models.
The higher sales of cars in December has surprised the companies as the month usually see dip in sales as makers reduce the stocks.
Meanwhile, Maruti Suzuki India Ltd (BSE: MARUTI : 532500, NSE: MARUTI) sales went down 13% in December, but other giants like TATA Motors (BSE: 500570, NSE: TATAMOTORS) and Hyundai saw growth.
Tata Motors sales grew 47% and Hyundai went up 13%.
“We have been able to sustain the growth primarily due to the encouraging response to Chevrolet Beat. Other car lines like Spark, Cruze and Tavera have also generated substantial volumes for the company. We expect the market to remain tight for at least a couple of months to come."said P. Balendran, Vice-President, General Motors India, reported Business Line.
The two wheeler sales went up by 8% in December.
In BSE, Tata Motors traded up 3.78% to Rs 190.75 and Maruti Suzuki traded up 2.12% to Rs 956.70 on 3 January in the early trade.
