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Tuesday, September 8, 2009

Auto sales zoom 24% in August

 New Delhi: Car sales in August grew a robust 25.5% as companies dispatched more vehicles to dealerships to boost stocks ahead of the demand spurt in forthcoming festive season. Maruti, Hyundai, Tata and Mahindra led the growth in car and passenger vehicles after a 31% growth in July. 

    Total auto sales were up 24% at 10 lakh units in August against 8.1 lakh units in the same month last year, according to industry body Siam. 
    Car sales in August stood at 1.2 lakh units against 96,082 units in the corresponding month last year. Demand for new models added to the festive rush and kept the momentum going for car sales that witnessed the seventh straight month of growth. 
    Industry analysts said demand was likely to remain 
strong in the coming months, 
especially over low base of last year when demand was hit by 
economic slowdown and high 
interest rates. The two-wheeler industry 
also saw a 26% growth at 6.1 lakh units against 4.8 lakh units in August last year, with Hero Honda fuelling the demand for motorcycles. 
    On the scooter side, Honda Motorcycle and Scooter India, Hero Honda, TVS and Suzuki pushed up sales, which grew 23% at 1.1 lakh units against 96,441 units in the same month last year. 
    Sales of commercial vehicles —long depressed— were also up, growing by 18% at 40,624 units against 34,289 units in August'08. While the light vehicles pushed the numbers, demand for medium and heavy vehicles also appears to be picking up as year-on-year sales stood positive in August. 
    Exports were relatively subdued as total vehicle sales overseas in August grew 6% at 1.49 lakh units against 1.4 lakh units in the same month last year, Siam said.



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