List of articles tagged: Car sales

The auto industry feared a dip in sales of automobiles in April due to the increased taxation and higher fuel costs. April sales have allayed these fears for the moment by showing positive trend.

Maruti, Hyundai, Volkswagen and Honda are happily surprised to see a surge in demand for automatic cars in India. One in every six cars sold in India is an automatic now.

Fear of rising prices post budget made customers buy before the new fiscal; doubts have now arisen if the sales momentum will be held during the rest of the year.

The overall sales growth rate recorded for April-November 2011 for the passenger car segment was 13.08 percent. In the month of November 2011 registered growth at 22.22 percent as compared to November 2010. Passenger Vehicles segment declined by (-) 0.50 percent during April-November 2011 over same period last year.

The hike in fuel prices and the revised interest rates has slowed down the growth of the Indian automotive sector. Pundits at the start of 2011 had predicted the growth of the Indian auto market to be around 20% for this year, compared to more than 30% growth which we witnessed in 2010. Now, it seems that the growth is likely to be about 12-15%.

The cumulative production data for April-June 2011 shows production growth of 18.43 percent over same period last year. In June 2011 as compared to June 2010, production grew at 16.61 percent.

The growth rate recorded for April-May 2011 was 16.34 percent. However, the month of May 2011 registered a lower growth rate of 13.40 percent as compared to May 2010.

Passenger Vehicles segment grew at 11.01 percent during April-May 2011 over same period last year. Passenger Cars grew by 10.04 percent, Utility Vehicles grew by 5.61 percent and Vans grew by 29.57 percent in this period. In May 2011, Passenger Cars, Utility Vehicles and Vans registered low growth at 7 percent, 4.98 percent and 23.31 percent respectively.

The first quarter and then the month of April have shown record sales for many a manufacturer. The growth trend has been positive for most maufacturers with a steady raise in demand for the diesel variants.

Hyundai Motor India Ltd continued to grow at a steady pace with domestic sales growing at 2.4 % for the month of January, 2011. HMIL’s total sales for January, 2011 stood at 43,316 units as against 52,628 units in January, 2010 registering a decline of 17.7%. The domestic sales accounted for 30,306 units as against 29,601 units in January, 2010 while the exports dipped by 43.5% from 23,027 units in January, 2010 to 13,010 units in January, 2011.