Year-end discounts, pent up demand accelerate December’s auto sales (Roundup)

New Delhi, Jan 1 : Pent-up demand, along with attractive year-end discounts accelerated the year-on-year sales of major automobile players’ during December.
Besides, analysts cited factors such as low interest rates, preference for personal mobility over public transport due to the pandemic as other key reasons for the upswing.
Amongst the major players, Maruti Suzuki reported a growth of 20.2 per cent in its overall sales during December 2020 on a year-on-year basis.
The company sold 1,60,226 units of vehicles last month, against 1,33,296 units sold in December 2019.
On a sequential basis, the company sold 1,53,223 units of vehicles in November 2020.
The other major passenger vehicle giant Hyundai Motor India’ overall sales including exports grew by 33.14 per cent during December.