After leaving behind the record sales month of October, the country’s leading car company Maruti Suzuki India (MSI) is now hoping to maintain its growth momentum on the basis of a few lakh marriages in November. The company recorded retail sales of 2,02,402 vehicles last month, which is the highest sales figure in October in any year. The reason for this was festive demand. Earlier in October, 2020, the company had sold 1,91,476 vehicles. Let us also tell you what information was given by the country’s largest auto company.
There will be good sales in November
Partho Banerjee, Senior Executive Officer (Marketing and Sales), Maruti Suzuki India Limited, said that we have been told that a few lakh marriages are going to take place across the country in November. Therefore, there is full hope that this will give us a good boost in our retail sales as well. He was answering the question whether the company would be able to maintain the pace of sales of the festive season during the next few months. He said that we will really have to see. But we feel that this time there are a lot of marriages in the month of November. The number of days for weddings is about 11 or 12 days, which is the highest figure ever.
The company is getting good growth
Maruti is expected to achieve its forecast of four to five per cent growth in the current financial year after good sales during the festive season. Banerjee said that our growth in retail sales during the period from April to October has been about four percent. Our growth in October is 22.4 percent. At the beginning of this year we had estimated a growth of four to five percent. I believe that our growth will be in line with this.
stock reduction
Banerjee said that due to good sales in October, the company has been successful in reducing the level of storage in its sales network. He said that we have reduced our network stock by more than 40,000 units. Now our network stock is for about a month. When asked about the concessions, he said that it varies from region to region and market to market. When asked if the company was planning a price increase in January, Banerjee said that our finance team is reviewing it and it is too early for me to comment on it.
