The auto market continues to be in grip of a slowdown. The auto sales have continued to be under pressure in November, sliding slightly.
After having reduced output for nine straight months due to lower demand, India’s largest carmaker Maruti Suzuki has raised production in November by 4.3 per cent, the first in nine months.
Maruti Suzuki produced a total of 1,41,834 units in November as against 1,35,946 units in the year-ago month, it said in a filing to the exchanges.
Domestic automobile sales have been on a precipitous decline since the September quarter of 2018-19 due to an overall slowdown in consumption and liquidity crisis at financial institutions after the collapse of infrastructure leasing and financial services ltd.
Maruti’s wholesales from April to October 2019 fell 20.4 per cent to 958,373 vehicles. The increase in vehicle production in November follows a 4.5 per cent year-on-year growth in wholesales or industry dispatches of Maruti in October to 144,277 units.
This was the first increase in seven months for the company thanks to a high level of discounts across most of its product range. In November, however, Maruti’s wholesales declined 3.2 per cent year-on-year to 141,400 units.
Source: Thanks WIONews.com