PV dispatches maintain growth momentum as demand sustains
Live MintPassenger vehicle sales in India continued its growth momentum for the fourth straight month in November spurred by festival demand even as market leader Maruti Suzuki India Ltd saw a decline. Wholesales or factory dispatches, reported by the eight leading carmakers including Maruti Suzuki, Hyundai Motor India Ltd and Tata Motors Ltd showed industry sales grew 11% last month to 268,111 vehicles from 240,785 vehicles a year earlier. Hyundai’s Creta and Venue sport utility vehicle models continued to drive sales fetching a combined more than 21,000 units in November while it sold nearly 9,100 units of the new version of the i20 hatchback. Mahindra and Mahindra Ltd recorded a 24% growth in passenger vehicle sales at 18,212 units in November amid demand for SUV models such as Scorpio, Bolero, XUV500 and the newly-launched Thar.