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Festive season fails to prop up auto sales

Special Correspondent

NEW DELHI: This festive season has so far failed to prop up sales of major auto companies, mainly due to higher loan rates and overall gloomy economic environment. Maruti Suzuki has reported over 8 per cent dip in its passenger car sales, while Hyundai is not too happy with its sales figure. Similarly, two-wheeler manufacturers are a disappointed lot.

Maruti Suzuki reported an 8 per cent drop in its October sales . It managed to sell 64,490 units against 69,415 units in the same month last year.

Similarly, Hyundai Motor’s sales grew by 9.9 per cent in October, though its exports jumped by a huge 168.4 per cent due to the global success of ‘i10’. Total sales stood at 46,660 units.

On the other hand, General Motors India reported a 5.31 per cent rise in its sales at 6,465 units.

Two-wheeler maker Bajaj Auto has reported a 34 per cent fall in its motorcycle sales at 1.63 lakh units against 2.48 lakh units.TVS Motor reported a 9.65 per cent fall in its total two-wheeler sales at 1.17 lakh units (1.29 lakh units).

Honda Motorcycle reported a 23 per cent increase in its total sales at 97,447 units against 79,271 units.

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