Car manufacturers in India post rise in sales amid pandemic
Source: Xinhua | 2020-11-02
Two major car manufacturers in India on Sunday posted a rise in sales figures during the month of October.
While Maruti Suzuki India Limited posted a growth of 18.9 percent over the same month of the previous year, the Honda Cars India Limited (HCIL) registered a growth of 8.3 percent.
While Maruti sold 182,448 units in October, Honda sold 10,836 units in the said month.
Maruti exported 9,586 units, even as Honda exported a total of 84 units in the month.
The growth in car sales figures is mainly attributed to the ongoing festive season in the country, when the buying sentiment among the countrymen is comparatively higher, compared to the rest of the year.
Rise in car sales assume significance even as India remains among the worst hit countries globally by the COVID-19 pandemic. As per latest official figures, the country' COVID-19 tally stood at 8,184,082 and the death toll at 122,111 as of Sunday.
The 68-day long lockdown beginning March 25 brought almost all manufacturing and economic activities to a grinding halt, besides job losses and salary cuts which resulted in a serious cut in purchasing power among Indians.
Busiunion
Busiunion