NEW DELHI - 09/DEC/2014: Car sales bounced back to the positive territory in November after two months of decline, helped by a lower base to compare with, softer fuel prices and as manufacturers piled up stock to meet any sudden demand due the uncertainty over the extension of an excise duty relief. After a lacklustre festive season (September-October), car sales jumped by a surprising 10% in November to 1.56 lakh units. The biggest gainers were Maruti Suzuki and the local units of Hyundai Motor, Toyota Motor and Honda Motor which benefitted from new models launched in recent months, even as most players in the market continued to face weak demand.
According to data released by industry body Society of Indian Automobile Manufacturers (SIAM) Tuesday, one of the factors that had driven the sales higher was the falling ownership cost. \"Car sales have grown in November with a positive sentiment coming from overall cost of ownership coming down due to lowering of fuel prices,\" SIAM director-general Vishnu Mathur said. Customers benefitted also because of lower excise duty on auto products, he said. The industry has been asking the government to extend the excise-duty stimulus beyond December when it is due to expire, and club it with the rollout of goods and service tax that proposes to combine several levies under one banner.