Business Daily from THE HINDU group of publications
Friday, Jan 04, 2008
ePaper | Mobile/PDA Version
Business Daily from THE HINDU group of publications Friday, Jan 04, 2008 ePaper | Mobile/PDA Version |
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Automobiles Markets - Stocks
BL Research Bureau In keeping with trends in the earlier years, the busy festival months of October and November have given way to a subdued December for automakers. Maruti Suzuki, which had clocked its highest ever domestic sales in November, growing by about 27 per cent year-on-year, grew by just 7 per cent in December compared with the same month of the previous year. This is not surprising as subdued numbers are generally expected after the discount offers during the festival season. Mahindra and Mahindra saw a decline in its utility vehicle sales. Sales of Scorpio declined by 22 per cent on a year-on-year basis. A high base in December 2006 due to an anniversary discount offered plus the launch of a new, higher-priced variant of the Scorpio last month may have contributed to this decline. No respite
Despite interest rates showing signs of peaking out, two-wheeler sales have not shown any signs of a turn around. In fact, after reporting positive growth in sales for the past four months, Hero Honda’s numbers declined by 4.72 per cent year-on-year. Extended discounts on some of its models and capacity expansion for the XCD haven’t helped Bajaj post strong numbers for the month. Sales continued to decline for TVS Motors too due to delayed product launches. What’s AheadWhile new launches such as the Flame, Apache RTR 160 and an electric variant of the Scooty may boost sales for TVS beginning January, the response to the Hunk and increased demand for the XCD may trigger positive growth for Hero Honda and Bajaj. Car makers may not witness much growth in the fourth quarter as the customers are likely to postpone purchases expecting duty cuts from the Budget. More Stories on : Automobiles | Stocks
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