The local festive season helped drive strong overall sales at most Indian automakers in November, with market leader Maruti Suzuki posting a 14.3% jump for the month, Reuters reported.

The news agency noted auto sales numbers are keenly watched as they are among the key indicators for assessing private consumption, which has a more than 50% weightage in calculating the country’s economic growth.

India’s inflation has remained at elevated levels well above the Reserve Bank of India’s upper tolerance band of 6%, but has recently shown some signs of easing.

Reuters said total passenger car sales rose 22.6% at Maruti Suzuki India, 56.2% at Mahindra & Mahindra and 55% at Tata Motors. Sales of utility vehicles, one of the fastest growing segments, rose 32.5% at Maruti and 56% at Mahindra.

There were also good results in the farm equipment and motorcycle segments.

The report added India’s annual economic growth for the quarter ended 30 September more than halved to 6.3% from 13.5% in the prior three months as distortions caused by COVID-19 lockdowns faded in Asia’s third-largest economy.

How well do you really know your competitors?

Access the most comprehensive Company Profiles on the market, powered by GlobalData. Save hours of research. Gain competitive edge.

Company Profile – free sample

Thank you!

Your download email will arrive shortly

Not ready to buy yet? Download a free sample

We are confident about the unique quality of our Company Profiles. However, we want you to make the most beneficial decision for your business, so we offer a free sample that you can download by submitting the below form

By GlobalData
Visit our Privacy Policy for more information about our services, how we may use, process and share your personal data, including information of your rights in respect of your personal data and how you can unsubscribe from future marketing communications. Our services are intended for corporate subscribers and you warrant that the email address submitted is your corporate email address.