Thursday, 1 December 2016

Maruti Nov sales jump 12% at 1.35 lakh units, exports down 10%

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Maruti Suzuki , the country's largest car manufacturer, beat analysts' expectations on November sales front due to strong performance in domestic business despite currency demonetisation. The company said on Thursday that it sold 1.35 lakh units in November, a growth of 12.2 percent compared with 1.2 lakh units sold in year-ago period. Sequential growth was 1.5 percent. Domestic sales increased 14.2 percent year-on-year to 1.26 lakh units in the month gone by while exports fell 9.8 percent to 9,225 units, the lowest sales since June 2016. Nomura had estimated flat sales at 1.21 lakh units and Motilal Oswal expected it to fall 5 percent at 1.15 lakh units due to currency demonetisation announced by the government on November 8.

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