NEW DELHI, Nov. 1 (Xinhua) -- India's car major Maruti Suzuki sold 894,346 cars during the first seven months of the current financial year (April 2019-March 2020), which was 20.3 percent less than what the company sold during the same period of last fiscal year, company sources told Xinhua on Friday.
According to the company's data, it sold 1,122,093 cars during April-October 2018, while its total sales in the previous year (April 2018-March 2019) stood at 1,862,449 units.
Maruti Suzuki, which claims nearly half of India's car market, sold a total of 153,435 cars during October, as compared to 146,766 units in the same month last year, thereby registering a positive growth of 4.5 percent.
The increase in car sales during the last month was mainly attributed to the festive season during which the car manufacturing companies offered huge discounts and promotional schemes in a bid to boost sales.
Maruti Suzuki sold 144,277 cars in the domestic market, while it exported 9,158 units during the last month which was 5.7 percent more as compared to October 2018 which witnessed 8,666 units exported.
The country's auto sector has been witnessing a continuous downfall this year amidst the overall economic slowdown that has gripped the country, leading to joblessness, unemployment and cut in the projected growth rates of the Gross Domestic Product (GDP) for the current financial year.
Major vehicles manufacturing companies, including Maruti Suzuki, Honda, Mahendra and Mahendra, Tata, have posted decline in sales over the past 10 to 11 months.
