Maruti Udyog Ltd sold 20,687 units of its entry-level model, Maruti 800, in March 2003. The monthly sales have surpassed the previous high of 18,735 units, logged in August 1999.
"This is also the highest ever the car has sold in a month since its launch in 1983," the company said, pointing to the fact that it is also the highest monthly sales ever reported for any other car.
Prior to March 2003, between August 2002 and February 2003, sales of the Maruti 800 was averaging 12,677 units a month.
The company attributed the rise in sales to the excise duty cut, which brought down the price of M-800 by around 5 per cent.
The company also pointed to the benefits that Maruti is reaping from its tie-up with the State Bank of India which not only has a deep market penetration, but is also offering loans at the lowest rates of interest and with the longest repayment periods in the market. State Bank is offering car loans for an EMI as low as Rs 1,725 a lakh.
The press release added: "The Maruti 800 has been repeatedly written off. Rivals have dismissed it. Some have wished its end. A few have even proclaimed it dead. In response, the Maruti 800 has let only the scores do the talking."
The company has drawn comparisons between its bread and butter car with Indian cricketer Sachin Tendulkar.
"The Maruti 800 has symbolised the aspirations of an entire generation of Indian middle class. It brings joy, thrill and pride to millions of lives, making their dreams a reality. And, like its counterpart in cricket, it is a national icon," it said in the statement issued today. Tendulkar, however, endorses competitor Fiat's cars in India.
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