Dis­counts drive up Maruti’s Dec re­tail sales to all-time high

Mint ST - - FRONT PAGE - Malya­ban Ghosh malya­[email protected] NEW DELHI

In­dia’s largest car­maker, Maruti Suzuki Ltd, pumped up dis­counts last month, boost­ing De­cem­ber re­tail sales to its high­est ever and con­sid­er­ably trim­ming its in­ven­tory.

Maruti’s show­room sales in De­cem­ber was around 220,000 units, 18.18% higher than around 180,000 units sold in the same month a year ago, ac­cord­ing to two peo­ple aware of the de­vel­op­ment.

This is also the com­pany’s high­est ever re­tail monthly sales, the peo­ple cited above said on con­di­tion of anonymity. Like other car­mak­ers in In­dia, Maruti does not pro­vide re­tail sales and counts despatches to deal­er­ships as sales.

Maruti in­creased dis­counts as it wanted to start the new year with a lower in­ven­tory, the first of the two peo­ple said.

“Lots of cus­tomers postponed their ve­hi­cle pur­chases in 2018 be­cause of the rise in petrol and diesel prices and the ad­verse im­pact of the NBFC (non­bank­ing fi­nan­cial com­pany) cri­sis on avail­abil­ity of credit and the de­cline in the stock mar­ket. Now, with such huge dis­counts be­ing of­fered on ev­ery ve­hi­cle, cus­tomers re­al­ized it was the best time to buy a ve­hi­cle,” this per­son said.

An email sent to Maruti Suzuki’s spokesper­sons on Fri­day re­mained unan­swered.

RAMESH PATHANIA/MINT

Maruti has of­fered dis­counts on all prod­ucts at its Arena and Nexa deal­er­ships.

Newspapers in English

Newspapers from India

© PressReader. All rights reserved.