New Delhi: Defying odds, domestic car sales growth returned to positive path at 2.84% in September after two consecutive months of downhill drive, even as motorcycles continued to cruise with a 15.22% jump.
According to the figures released by the Society of Indian Automobile Manufacturers (SIAM), domestic passenger car sales in September stood at 1,08,823 units as against 1,05,822 units in the same month last year, while that of motorcycles was at 6,32,369 units as against 5,48,816 units last year.
“The numbers are actually better than what we expected considering the fact that there was the ‘shradh´ period during September, when customers postpone purchases,” SIAM Director General Dilip Chenoy said.
He said increased domestic sales were a reflection of confidence returning back to the industry after the rough ride in the previous two months, however, adding it was premature to say the worse is behind.
“For the full fiscal we would keep the growth projection to around 10-12% for passenger vehicles. Companies have increased production as compared to actual sales, which is a sign of confidence,” Chenoy said.
During September, market leader Maruti Suzuki India had a marginal increase in sales at 56,501 units as against 56,322 units in the same month last year.
Hyundai Motor India Ltd on the other hand, riding on the back of its new hatchback ‘i10´, managed an impressive growth of 23.98% at 22,307 units compared to 17,993 units in the same month last year, SIAM said.
Tata Motors, however, dipped to 3.20% at 13,265 units, while the same stood at 13,704 units in September last year. General Motors sales also declined by 5.32% to 3,596 units from 3,798 units in the year-ago period.