Positive sentiment driven by availability of finance meant higher double digit growth across categories in May, despite several rounds of price hikes and a partial withdrawal of government stimulus measures.
Maruti Suzuki India Ltd., the biggest car maker by sales, on Tuesday posted yet another month of record sales with volumes growing by 27.9 per cent across categories at 102,200 units. The A2 segment (comprising Alto, WagonR, Estilo, Swift, A-Star and Ritz) witnessed 16.60 per cent growth, its best ever for a month, at 62,679 units compared to 53,760 units in the same month a year ago. Its A3 segment sales (consisting of SX4 and DZiRE) increased by 60.47 per cent to 10,883 units compared to 6,782 units in the corresponding period a year ago.
NEWDELHI: Daimler, Maruti Suzuki and Mahindra & Mahindra are set to lead anestimated $30-billion investments by automakers in the next four years to meetthe galloping demand in the world’s second fastest-growing market afterChina.
Global auto companies facing a sedate growth in existingmarkets are investing to tap the growing demand in India as investment spendingand the government’s social programmes raise incomes in smaller cities andrural areas too.
These investments by automakers is set to triggerexpansion of capacities by component suppliers too such as Amtek Auto and BharatForge.
NEWDELHI: Petrol and diesel prices could rise by up to Rs 3 a litre next week asper a key proposal favouring free auto-fuel rates that awaits the approval of apanel of ministers meeting on Monday.
If the empowered group ofministers (EGoM) passes the proposal, an important attempt to cut fuel subsidiessignificantly, it would be the third such price rise in nearly a year. Thepetroleum ministry had raised petrol prices by Rs 4 a litre and diesel by Rs 2 alitre on July 2, 2009, and finance minister Pranab Mukherjee had unexpectedlyraised taxes on petroleum products in his February budget this year that madepetrol costlier by Rs 2.71 and diesel Rs 2.55 a litre.
Even so, thegovernment will be happy with the timing of the latest move because the impacton the consumer would not be as severe as a fortnight ago, when fuel priceswould have leaped nearly Rs 7 a litre, due to softening global crude oilprices.
Nifty and Sensex gained 1.36% and 1.5% this week, respectively. Auto and FMCG companies' shares were the major gainers.
Original Equipment Manufacturer Diesel Tanks
The BSE Auto Index was up 4.4% on good sales numbers for the month of May. Maruti shot up 8.5%, M&M was up 7% and Hero Honda was up 3.8%.HUL rallied 6.4% as the company will consider buyback in a board meeting on June 11. ITC rose 2.6%. The BSE FMCG Index went up 3.6%.
KOLKATA: When Maruti Suzuki India wasgearing up to drive sales in the rural markets last year, it realised itsexisting sales force would not be enough. It was then that the country’slargest passenger carmaker decided to venture out and undertake fresh hiringfrom companies focussed on the rural segment. Soon, a battery of seasoned salesprofessionals came on board; not from the auto industry, as one might expect,but from the king of rural marketers, Hindustan Unilever.
India’s leading automobile makers like Maruti Suzuki, Mahindra& Mahindra (M&M), General Motors and VE Commercial Vehicles (a 50:50 JVbetween the Volvo Group and Eicher Motors) have figured out that to venture intonew markets, they need a new look at things that can only come from recruitingtalent outside their sector.
Original Equipment Manufacturer Diesel Tanks
“Restricting hires to just theautomobile sector may not deliver much in today’s changing marketscenario, which is becoming more consumer-oriented,” says Maruti Suzuki HRhead SY Siddiqui. “We want to maintain a versatility in our talent pool,and people from other sectors bring a fresh perspective and a ‘thirdeye’.” Maruti plans to hire 400 experienced professionals this year,about half from the FMCG, telecom, IT and engineering sectors.
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