The ever increasing Indian car market has not disappointed the car makers at the dusk of the year 2010. The major breakthrough came from the giants like Maruti Suzuki, Tata Motors and M&M among the Indian companies. By now these companies are geared up to combat the facing challenges ahead with the expansion plans and new launches as their shields. According to an analysis from Brics Securities of Mumbai, the Indian car market promises to be a boom in another five years. The reason cited for this is the car sales achievement meted by these companies. Maruti Suzuki, for its part, has secured 17% car sales growth in December by selling 99225 units against its own performance of the same period of 2009.
The Chairman of MSI said that the market potential and the tough competition has envisaged the company to go ahead with good products, competitive price and excellent post sale service. He justified that the sale volume has been low due to the normal shut down for 6 days for maintenance. He cited the market sale volume during April-November when it was a rise by 32%, quoted by SIAM. The share value of Maruti is expected to rise by 1% and already it amounts to $9.2 billion. The company’s hot cake is Alto, which is at the production volume of 3800 units a day and the annual volume is targeted for 1.85 million in another two years.
In general, the car makers in India have tasted the sweet icing with double-digit growth. Ford India’s performance stood at 172% hike compared to the previous year (4301 units). Honda Siel Cars India achieved 20% rise in its car sales volume in December month. Toyota’s rise is by 5% in the month while Hyundai posted a sale increase of 17%. GM India’s feat is at 4% as the company is busy expanding its activities with an investment of $500 million and launch of 6 new models. Volkswagen, the German car maker, is not far behind in the race as it has posted a rise of 14 times than its car sales. The hike was achieved by its Polo and Vento versions.
The noted omission in the rise was Tata’s Nano, once the popular people’s car. Its sale saw a debacle of 509 units in November due to the widespread news of its fire incidents. The net sale of Nano in December stood at 5784 units driven out by refined moves for sale increase. Despite this, Tata Motors’ passenger car sales increased by28% in December. The Flitch Ratings has forecast that there will be a growth in the passenger car market in India by 12-15% in the 2011 calendar year. This could be possible by the large scale movement of middle class people opting for easy financing.
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This post was submitted by Mudit Agrawal.
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