Domestic car sales in India grow by 17.47 per cent in July

The Indian car market is showing a positive sentiment off late as the sales numbers of cars has gone up. The domestic car sales for July showed a hike of 17.47 per cent making it the second highest number in the last three months.

The highest growth was last recorded in April 2015 when domestic cars sales had grown by 18.14 per cent. The numbers in July rose to 1.62 lakh with major contribution from Maruti Suzuki and Honda cars. The data released by the Society of Indian Automobile Manufacturers (SIAM) shows that 1,37,922 units were sold in the same month last year. This also marks the ninth consecutive month of successful growth for passenger cars.

Vishnu Mathur, Director General, SIAM, said, "We have seen fairly good growth in the passenger vehicle industry and in heavy commercial vehicle industry. We have almost seen 7.46 per cent growth in passenger vehicles as a whole, out of which passenger cars has grown by about 10 per cent and in the medium and heavy commercial vehicle industry, we have seen a decent growth of almost 25 per cent."

Despite the good sales numbers, the figures of the LCVs and motorcycles continue to keep falling. These are majorly dependent on the good demand in the rural market. However, looking at the positive sentiments in the market and the upcoming festive season, we can expect to see a boom here as well in the coming months.

Source: ET