Demonetization has caused a disrupt in the world of business. The month of November has seen a downfall in the trade of the country and a similar downfall is expected in the sales of the passenger vehicles.
However, surpassing the potholes, Maruti Suzuki and Toyota has reported a YoY growth in the sale of passenger vehicles in the country.
MARUTI SUZUKI
The country's largest car maker Maruti Suzuki today reported a 14.2% growth in domestic sales for November. The company sold 1,26,220 units last month compared to 11,05,99 units sold in the year-ago period.
Maruti reported that because of its low pricing strategy and a car option in every segment along with the financing sources helped the company to achieve its target, breaking through the fire boundary that was created due to demonetization.
The company could achieve such great numbers due to the high demand of premium compact Baleno and sports utility vehicle Brezza.
While sales of mini cars Alto and WagonR increased by 8.2%, those in the compact car category (Swift, Celerio, Ritz, Dzire, Baleno) went up by 10.8% to 49,431 units.
Demand for utility vehicles (Ertiga, S Cross, Brezza, Gypsy) nearly doubled to 17,215 units.
TOYOTA
The Japanese car maker Toyota Motors excelled by selling a total of 1,309 units in the domestic market registering a growth of 10% when compared to the same period last year. The carmaker had sold 10,278 units in the domestic market and exported 1,110 units of Etios series in November 2015.
The company recently launches the much popular Toyota Endeavor, which was really liked by the people. The company succeeded in selling double numbers of this new offering as compared to its sales in November last year.
However, the auto companies report that demonetization has caused a huge decline in the number of walk-in customers to their dealerships. The auto companies believe that the effect of demonisation will remain for a few months.
The auto companies like Toyota and Honda have introduced many financing facilities like the 100% on road funding, payments through E-Wallet and Pay TM to ensure smooth & hassle free buying experiences.
