- Wealth PMS
It’s been a good June for Car Sales, it seems. The top 8 manufacturers sold 16% more cars than in Jun 2013, and of them Maruti has done the biggest improvement.
How big is Maruti? Well, it’s half the top 8 in terms of car sales. The rest are just playing catch up.
Losing sales on an annual standpoint are Tata Motors (domestic sales), M&M, Toyota and GM. Honda did a massive increase on a new car booking the biggest deal was Maruti’s 31% increase which amounted to over 23,000 cars, or about 86% of the total increase in cars sold in the country!
The Maruti stock is up 10% in two days after the news. But that is no big deal because the underperformers, Tata Motors and M&M, are also up 3% to 7%. The market loves any news!