STOCK MARKET BSE NSE

July car sales up 6.7%

Published: 10th August 2012 09:51 AM  |   Last Updated: 10th August 2012 09:51 AM   |  A+A-

The Indian auto sector braved existing turbulent economic conditions to post a growth of 6.71% in cars while the two wheeler segment registered 4.97 % in July 2012.

Figures released by the Society of Indian Automobile Manufacturers (SIAM) state that 1,43,496 units (cars) were sold in July as against 1,34,473 units (cars) while as many as 8,21,821 units(bikes) were sold as against 7,82,852 units (bikes) in the same month last year.

Citing the strike at the Manesar plant of Maruti as major influencer in the four wheeler segment, SIAM Director General Vishnu Marthur said that sales were still up only due to diesel cars (see chart).“This year’s car sales growth has also been magnified by the low base of last year due to strike in Maruti,” he said.

Bike sales recorded its lowest numbers since March 2012 (1.15%). Hero Motor recorded sales of  4,36,994 units while Bajaj Auto’s sales declined marginally to 2,00,535 units with TVS Motors recording sales of 36,461 units. Respite came from Honda Motorcycle, which posted a 95.86 % rise in sales to 1,01,692 units.

Pinning their hopes on P Chidambaram taking over as the Finance Minister, SIAM called for the new FM to take steps to moderate interest rates and bring down difference in price between vari ants to increase demand.

Stay up to date on all the latest Business news with The New Indian Express App. Download now

Comments

Disclaimer : We respect your thoughts and views! But we need to be judicious while moderating your comments. All the comments will be moderated by the newindianexpress.com editorial. Abstain from posting comments that are obscene, defamatory or inflammatory, and do not indulge in personal attacks. Try to avoid outside hyperlinks inside the comment. Help us delete comments that do not follow these guidelines.

The views expressed in comments published on newindianexpress.com are those of the comment writers alone. They do not represent the views or opinions of newindianexpress.com or its staff, nor do they represent the views or opinions of The New Indian Express Group, or any entity of, or affiliated with, The New Indian Express Group. newindianexpress.com reserves the right to take any or all comments down at any time.

flipboard facebook twitter whatsapp