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Year-end discounts, pent up demand accelerate December s auto sales
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M&M s December auto sales down 10%
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Car industry wraps up tough 2020 on a high
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Car industry wraps up tough 2020 on a high
Pankaj Doval / TNN / Updated: Jan 2, 2021, 13:39 IST
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Car companies were the worst hit when the coronavirus spread started surfacing around the middle of March 2020. (Representative image)
NEW DELHI: The car industry wrapped up one of its toughest year to date, closing 2020 with positive numbers in December, indicating that consumers have been buying cars despite the pressures on economy and jobs due to coronavirus vagaries.
Car companies were the worst hit when the coronavirus spread started surfacing around the middle of March 2020. Just like other industries, sales here too slipped to zero in April, and remained tough to come by in the subsequent months.
Year-end discounts, pent up demand accelerate December’s auto sales (Roundup)
By IANS| Published: 2nd January 2021 1:48 am IST
New Delhi, Jan 1 : Pent-up demand, along with attractive year-end discounts accelerated the year-on-year sales of major automobile players’ during December.
Besides, analysts cited factors such as low interest rates, preference for personal mobility over public transport due to the pandemic as other key reasons for the upswing.
Amongst the major players, Maruti Suzuki reported a growth of 20.2 per cent in its overall sales during December 2020 on a year-on-year basis.
The company sold 1,60,226 units of vehicles last month, against 1,33,296 units sold in December 2019.
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