India's leading passenger vehicle manufacturer Maruti Suzuki has witnessed a steep decline in sales in the month of December 2016.
Maruti Suzuki has announced that it has sold 1,17,908 units in the month of December 2016. These figures include 1,06,414 units in the domestic market and 11,494 units in exports.
This is a sharp decline in sales compared to the same period of 2015, Maruti Suzuki recorded a 20 percent negative growth in the month of November 2016.
But the cumulative sales growth between October-November stood at seven percent because of the festive season. The Baleno and the Brezza continued to perform well in the market with an average sales figures of 8000 units per month.
But in December 2016, Maruti Suzuki suffered because of the demonetisation. Although Maruti Suzuki Chairman R C Bhargava stated that the production has been not affected because of demonetisation.
The small car segment which comprises of Wagon R and Alto have seen a decline in sales by 15 percent on a year on year basis. The compact segment has also suffered a negative growth of 29.2 percent.
The most affected models because of the demonetisation were Omni and Eeco as the segment witnessed a decline in growth by 17.1 percent. Overall the passenger car segment recorded a negative sales growth of nearly 4.4 percent.