November 2016 was quite an eventful month for the Indian automotive sector. The announcement of demonetisation of ₹ 500 and ₹ 1000 in the middle of the festive season did have a considerable impact on sales. While sales weren’t as impressive as in October 2016, a lot of automakers did manage to see double digit growth.
Now, there’s been a lot said on the subject of demonetisation and its effects on the auto industry here. We’ve told you how car manufacturers were dealing with the situation too and it surely seems to have worked. Maruti Suzuki today reported a growth of 14.2 per cent in domestic sales last month. The company sold over 1.26 lakh units in November as compared to 1.10 lakh units sold in the same month last year. The star performers which have been driving sales are the Baleno and the Vitara Brezza.
The market leader also managed to register a growth of over 8 per cent in the Mini category which consists of the Alto and Wagon R whereas the compact segment dominated by the Baleno, Swift and Swift Dzire grew by 10.8 per cent. The company’s exports, however, declined by 9.8 per cent as it managed to export 9,225 units in Nov 2016 as against 10,225 units in November 2015.
Toyota Kirloskar Motors reported sales of 11,309 units in the domestic market, registering a growth of 10 per cent when compared to the same period last year. The Innova Crysta seems to have made its mark in the market as the company has managed to sell more than 50000 units of the MPV. The latest car launched by Toyota was the Fortuner and it too shows a lot of promise as the company has already raked in 6200 bookings so far. The company also exported 1285 units of its sedan Etios in November.