Year-end discounts and freebies did not work wonders for carmakers as demand remained weak in December,signaling that things will continue to remain difficult in the new year as well.
According to sales numbers released by car companies,December remained sluggish and numbers were hard to come by despite extra efforts thrown in by companies to lure buyers.The despondency on economic growth front,coupled with high petrol prices and dearer EMIs,has seen the Indian car market slow down massively in 2012,keeping buyers away from showrooms.
While top carmaker Maruti did not release its numbers for the previous month as it is shut for maintenance,the performance of others was not something to talk much about.Hyundai,the second-biggest passenger vehicle maker,saw a decline of 10% in its volumes at 26,697 units against 29,516 units in December 2011.Also witnessing a fall in volumes (year-on-year ) in December were Toyota and General Motors.
