Beating the cash crunch in the country that has driven the auto industry for dip and affected monthly wholesale numbers, Maruti Suzuki still registers 14.2% growth in domestic sales in the month of November. The homegrown automajor has sold 1,26,220 units of vehicles last month as compared to the 1,10,599 units sold in the corresponding month last year.
On this, a Maruti Suzuki official said that dispatches were normal during the month and given that 85-90% of cars are sold with the help of financial solutions, wholesale volumes remained steady last month.
Maruti Suzuki’s sales were boosted by demand for premium compact Baleno and sports utility vehicle Brezza. While sales of entry level cars such as Alto and WagonR increased by 8.2%, those in the compact car category (Swift, Celerio, Ritz, Dzire, Baleno) went up by 10.8% to 49431 units, moreover, the demand for utility vehicles (Ertiga, S Cross, Brezza, Gypsy) nearly doubled to 17215 units.
The surge in auto sales from Maruti Suzuki, which commands about 47% domestic market share, will help the industry report overall growth in November. In order to help retail sales post demonetisation, Maruti and other players are offering a 100% finance on cars through tie-ups with banks. Maruti Suzuki will launch its most anticipated compact crossover Ignis that has recentlygone under Euro NCAP crash test.