Maruti and Mahindra report rise while sector remains gloomy

Maruti and Mahindra report rise while sector remains gloomyThe upcoming festive season in India has appeared to have not succeeded in lifting the auto sector in the country indicating a continuation of weak demand scenario.

In the sector, only two players, Maruti Suzuki and Mahindra & Mahindra have reported an increase in sales in the country in the month of September. Maruti Suzuki recorded an increase of 13 per cent in sales while the sales of Mahindra & Mahindra rose 22 percent during the month.

Maruti Suzuki India was able to sell 88,801 units during the month compared to 78,816 units in the same month of the previous year. Mahindra & Mahindra's (M&M) passenger vehicles segment sales increased 22.43 percent to 23,808 units as against 19,447 units.

"We are happy with the performance and growth that we have achieved during September 2012 over the festive season month of September 2011," said Pravin Shah, M&M chief executive for automotive division.

On the other hand, South Korean auto major, Hyundai Motor recorded a fall of 14 percent in sales and another Indian auto-major, Tata motors' sales fell by a disappointing 18 percent during the month. Toyota Kirloskar Motor and General Motors too recorded a fall of 5 percent and 27 percent respectively. The sales at Ford India also fell during the month.