2023-12-01 21:01:00
The automotive industry saw a positive trend in car sales for leading automakers in November, with most companies reporting an increase compared to the previous year. According to the latest sales figures, Maruti Suzuki, Toyota, Mahindra, Hyundai, and MG Motor all experienced growth in their car sales, signaling a strong demand for vehicles in the market.
Maruti Suzuki, the country’s largest car manufacturer, reported a 3.39% increase in car sales, with 1,64,439 units sold in November 2023 compared to 1,59,044 units in the same period last year. Similarly, Toyota recorded a remarkable 51% rise in car sales, with 17,818 units sold last month compared to 11,765 units in November 2022, indicating a significant surge in demand for their vehicles.
Mahindra and Hyundai also saw a substantial increase in their car sales, with both companies reporting a rise of 21% and 3% respectively. MG Motor, the British automotive brand, reported a 2% increase in car sales, with 4,154 units sold in November 2023.
However, the picture was not entirely rosy as Tata Motors, the Indian multinational automotive manufacturing company, reported a slight decline in car sales, with 74,172 units sold in November 2023 compared to 75,478 units in the same period last year, marking a 1.73% decrease in sales.
In addition to the positive trend in car sales, the two-wheeler segment also witnessed a growth in sales last month. Leading two-wheeler manufacturers such as TVS, Honda, and Bajaj all reported an increase in sales, indicating a strong consumer demand for motorcycles and scooters.
Overall, the automotive industry’s positive performance in November reflects a resilient market and growing consumer confidence in the country’s economy. With the festive season and new launches driving sales, the industry is optimistic about sustained growth in the coming months.
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