Source: Business Standard, Sept 04, 2017
New Delhi:With the festive season round the corner, domestic sales of passenger vehicles — cars, utility vehicles and vans — surged 14 per cent in August as dealers built inventory. The industry is estimated to have sold almost 290,000 vehicles last month, with double-digit growth from market leader Maruti Suzuki, besides Honda and Tata Motors. Hyundai, the second-biggest player, saw volume grow at nine per cent. July sales had grown 15 per cent.
Maruti, which now commands a 50 per cent share in the domestic market, sold 151,270 units to dealers last month, against 119,906 units in August last year. Sales of compact segment vehicles (Swift, Baleno, etc) rose 62.4 per cent to 74,012 units, while utility vehicle (Brezza, Ertiga, etc) clocked growth of 27.6 per cent. The mini (Alto, WagonR) segment, however, remained flat at 35,428 vehicles. The company’s stock price gained 1.43 per cent to close at Rs 7,812 on the BSE on Friday.
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