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Maruti car sales up in July despite plant lockout
Posted on 02 Aug 20125,626 Views Comments
Hyundai, Tata Motors, M&M and Toyota too report increased sales in July 2012, while GM, Ford and Honda struggle to notch up numbers
Car sales continued to increase moderately in July with top three players riding on diesel models to report growth, but lockout at Maruti Suzuki's Manesar plants may hit the market this month.
Market leader Maruti Suzuki increased its domestic sales 7% year-on-year in July on the back of strong demand for its Swift and Dzire cars that have now run out of stock due to non-production at the two Manesar plants that make 40% of all Maruti vehicles. Others such as Hyundai, Tata Motors, Mahindra & Mahindra and Toyota too increased their sales in July, while GM, Ford and Honda reported lower sales.
Hyundai, the country's second-largest carmaker, reported 7.6% gain in July, powered by i20 hatchback and Verna sedan, and the company expects the industry growth rate to remain low.
"The overall market demand is suppressed due to general inflationary trend, high fuel prices and interest rates. Unless any major triggers get activated, market sentiment is not expected to improve very much," Hyundai Motor India Vice-President, National Sales, Rakesh Srivastava said.
Analysts say that a potential indefinite lockout at Maruti's two Manesar plants following massive violence that led to the death of a manager last month will impact the overall car market this month, while benefitting rival carmakers.
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