Every Big Tree Must Fall Someday and one such big tree of the Indian Automobile World is starting to feel the initial tremors. Maruti Suzuki’s India product line comprises of a host of budget offerings across all segments. But of late the marquee Indian Automaker has witnessed an unexpected exodus of fans. This was particularly prominent during this year festive season (Diwali Week Included). But experts suggest that more than the audience it is the stress from external factors that have triggered the downfall.
This year Maruti Suzuki India recorded an overall decrease of 0.3 percent over last year in November cumulative sales. Against 1,44,297 units sold in November 2017, the total offtake from its showrooms for November 2018 stood at 1,43,890 units. Not just the slowdown in sales, the sharp decline in sales of its erstwhile star performers like entry-level Alto and Wagon R must have raised a few eyebrows.
However, this is only one side of the coin. In contrast to below par performance of the old-stalwarts, the new Maruti Suzuki kids i.e Celerio, Ignis, Baleno have done exceeding well in their respective segments. Further, its Swift product line continues to enjoy the unwavering love of its fans. Together, they recorded an impressive growth of 10.8 percent over November 2017 figure of 65,447 units from last year.
The Maruti Suzuki sales figures, particularly in October and November, corresponds with the overall slow growth of the industry this year. A few contributing factors in this regard have been Increasing fuel prices and high insurance premiums. Car insurance is now to be compulsorily bundled into a five-year plan. And the low retail in the festive season subsequently trickled down to overall wholesale figures too.
Industry experts suggest that other participants in the passenger vehicle industry will also more or less report similar results. The flat growth is attributed to turbulent external factors. However, with the New Year just around the corner, Automakers will have their hopes pegged on a fresh start. Expect a flurry of new offerings as the New Year’s bell starts ringing.