The Indian car industry in February 2015 sold 1.71 lakh units as compared to 1.60 lakh units in the corresponding period last year registering a growth of 6.85 per cent.
A report released by the SIAM says the sales of passenger vehicles grew by 4.03 per cent in the period April 2014-February 2015 as compared to the period April 2013-February 2014. Within the passenger vehicles segment, passenger cars grew by 5.24 per cent. Of this the highest sellers have been Maruti Suzuki and its Alto range which did 25,673 units last month as compared to 24,623 units in Feb 2014.
Finally, the export of passenger vehicles in the period grew by 5.82 per cent in the period April 2014-February 2015 as compared to the corresponding period last year.
There was hope that the budget would bring major changes for the Indian market. However, apart from a greenlight for GST, there is not much succor for the industry. On the positive side this only expected to slightly reduce the growth rate rather than affect it majorly.
