The automobile sales numbers for the month of November announced today show a remarkable performance of the automobile majors. Though there is a post festive season slowdown on y-o-y basis but, the quarterly figures are good.
Maruti Suzuki, India's leading automaker sold a total of 1,12,554 vehicles in November 2010, a growth of 28.2%. For the second consecutive month, the company crossed 1 lakh units sales mark in the domestic market. Mahindra and Mahindra's two-wheeler sales grew 125% in November to 15,854 units. Sales of motorcycles, which it launched earlier this year, were at 1,706 units. It is in the process of ramping up the production to meet demand. Commercial and passenger vehicle maker Tata Motor, with its sales figure at 54,622, reported a 1% rise in its sales for the month of November. The company is betting big on Nano as it is targeting to sell more than 20,000 Nanos a month, despite its slow start and low sales.
Overall, the whole bunch of automobile companies gave a spectacular performance and this was seen at their performance on the indices today. We expect a robust performance in future and advise investors to buy quality automobile company scrips like Tata Motors, Hero Honda, Maruti Suzuki etc, on dips.
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