2023-12-01 05:33:12
Indian motorcycle manufacturer Bajaj Auto and automobile manufacturer Mahindra and Mahindra on Friday announced strong growth in their volumes in November, thanks to demand linked to the festive season.
Bajaj, India’s first two-wheeler maker to report monthly sales, said domestic motorcycle volumes jumped 76% in November from a year earlier.
Indians usually make major purchases during the festive season, which ran from mid-October to mid-November this year.
Analysts noted that the upcoming wedding season might further boost two-wheeler sales.
Earlier this week, a dealer body said retail sales of motorcycles and scooters increased by nearly 21 per cent during the festive period, driven by strong demand from rural consumers.
Sports utility vehicle maker Mahindra said on Friday its overall auto sales rose 21% in November due to a “healthy festive season”, but added that it faced supply issues for certain parts during the month.
“We are closely monitoring the situation and taking necessary measures to mitigate the challenges,” said Veejay Nakra, president of Mahindra’s automotive division.
Leading automaker Maruti Suzuki India and motorcycle maker Hero MotoCorp will release their monthly figures later today.
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