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The car market in India continues to grow even after the festive season.
Car sales growth traditionally dip in month of December, but this time around it grew 8%. Maruti Suzuki and Hyundai outpaced the market growing at 11.6% and 28% respectively.
The industry grew on the back of carmakers pushing sales into rural India, and increasing number of special schemes for buyers. Hyundai offered up to ₹52,000 savings on the i10, and up to ₹74,000 on the Verna. Similarly, Maruti offered more than ₹50,000 savings on all its models, excluding the Baleno, which has a waiting period.
However, given the fact that last December people bought more cars in anticipation of additional 4% excise duties to be levied from beginning of 2015, growth this December surprised many. "This kind of growth is not possible if the industry sells one or two models — growth came in across models," said Rakesh Srivastava, VP - sales at Hyundai Motors.
Ford grew less than 1% and Mahindra and Mahindra registered 4% growth.