Car Sales brake on rising costs
Car sales in India drop for the month of August. Its the 'functional' buys that have taken the hit more than other categories. The major hit for Maruti on sales came from its large hatchback portfolio—comprising Alto, Zen Estilo, Swift and WagonR—which dipped 9.75% to 37,667 in August as against 41,736 last year. Its entry-car M800 sales dropped sharply by 32.17% to 3,717 as against 5,480 last year. Maruti’s sedan series— SX4, Swift DZire and Esteem—grew 12% to 5,427 as against 4,839 last year.
Hyundai has been able to stem the tide by riding on its popular i10 hatchback. Its exports clocked a much higher 89% growth to 23,100 units in August from 12,256 last year, taking the final monthly tally to well beyond 50% overall growth.