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Price cuts push car sales up 38 pc in Q1 of 1999

Massive price cuts saw a near 69 per cent surge in sales of the Fiat Uno and over 41 per cent jump in retail of Maruti passenger cars during the first quarter of 1999 calender year over the previous corresponding quarter. Sales were also higher than those in the previous quarter (Q4 of 1998).

However, sales in the mid-size car segment dropped further.

During the period, sales in the entire passenger car industry grew by around 38 per cent, having offloaded 109,595 units as against 79,454 units in the previous quarter, latest industry estimates said.

Mitsubishi Lancer sales zipped ahead at 88.4 per cent to 1,781 units as against 945 units the first quarter of 1998.

Ind Auto Limited's sales grew by 68.9 per cent during the period at 4,091 units from 2,421 units while Maruti's passenger car sales surged 41.7 per cent at 81,988 units from 57,855 units in Q4 of 1998.

Honda Siel Cars registered a 48.4 per cent surge in sales of Honda City cars at 2,713 units from 1,828 units in the previous quarter, according to the estimates.

Hindustan Motors and Hyundai Motors also recorded a growth in sales during the period. HM's passenger car sales grew ten per cent while Hyundai's Santro sales grew by 8.9 per cent at 3,232 cars and 9,199 units respectively.

Telco saw a major drop in sales of its Sierra and Eestate passenger vehicles during the period. Retails dropped by 57.2 per cent at 100 units from 234 units in the previous quarter. However, during the last two months of Q1 of 1999, the company sold 2,100 units of its much-hyped Indica.

General Motors India Limited witnessed a 13.4 per cent drop in sales at 723 units from 835 units while Ford India Limited sales dropped 12.3 per cent at 587 units from 670 units. Daewoo Motors India Limited, in spite of launch of the small car Matiz, saw a 12.1 per cent drop in sales during the first quarter at 2,798 units from 3,184 units in the previous quarter.

UNI

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