Maruti local sales grow 14.6%, Hyundai’s rise 25%; CV sales stay muted, except for Ashok Leyland
A majority of vehicle manufacturers ended 2020 on a positive note, registering good wholesales growth, and entering the new year with ‘cautious optimism’ driven by expectations of a V-shaped economic recovery.
Four-wheeler market leader Maruti Suzuki India said it dispatched more than 1.4 lakh passenger vehicles (PVs) to dealers in December 2020, a growth of 14.6% year-on-year. In addition, the sales of the company’s light commercial vehicle Super Carry more than tripled to 5,726 units, while exports rose 31.4% to 9,938 units.
Mitul Shah, head, Research, Reliance Securities, said auto firms delivered better-than-expected volumes in December with continuation of a positive growth trajectory for most segments.
He added that he expected volume traction to continue in the coming months.
Rival Hyundai posted its highest-ever sales for the December month at 47,400 units, up 25%. S.S….