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Industry News 
Auto sales clock new record in September
by Amit Mukherjee on October 8th 2010 and filled under Public Transportation
 

 

NEW DELHI: Domestic automobile sales clocked a new record of 13,29,086 units in September, driven by best ever monthly sales in passenger cars and motorcycles.
 Society of Indian Automobile Manufacturers (SIAM) said sales beat expectations, but warned that the party could be spoiled by a possible rate hike in November by Reserve Bank of India.
The industry had witnessed a total sales of 12,63,293 units in August this year. On an annual basis, vehicle sales in September grew by 21.63 per cent.
SIAM President Pawan Goenka said the record number in September was driven by best ever monthly sales achieved in passenger cars, motorcycles and total two-wheelers segments.
"The performance was better than what we targeted in August," he added.
According to SIAM, domestic passenger car sales jumped by 30.38 per cent to 1,69,082 units in September compared to 1,29,684 units in the same month last year. The September sales were the best ever monthly sales, bettering the previous best of 1,60,794 units in August this year.
Similarly, motorcycle sales of 7,78,352 units, up 15.50 per cent to from 6,73,893 units in the same month last year, was also a record. The previous highest of 7,27,542 units was achieved in August this year. 
Total two-wheeler sales achieved a record figure of 10,05,162 units in September, up 19.93 per cent to from 8,38,152 units in the same month last year. The previous best was in August this year at 9,57,304 units. 
Sales of commercial vehicles jumped by 29.56 per cent to 59,455 units from 45,889 units in the year-ago period.
When asked if the sales would continue its strong growth momentum in coming months, Goenka said: "If there is a hike in policy rates in November, it will have a significant impact on the industry."
Besides, during October-December quarter of last fiscal, industry witnessed robust sales and the third quarter of 2010-11 will be pitted against that performance, he said.
"So I expect a moderate growth in Q3 (of FY'11). However, I was proved wrong in Q2 and I don't mind being wrong again," he added.
During August, the country's largest carmaker Maruti Suzuki India posted domestic sales of 81,060 units, up 28.52 per cent from the same month last year, SIAM said.
Hyundai Motor India had sales of 31,751 units, up 14.20 per cent from September last year. Tata Motors' sales grew by 30.12 per cent to 20,561 units.

 
 
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Source: http://timesofindia.indiatimes.com/business/india-business/Auto-sales-clock-new-record-in-...
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Tags (click for more Related Topics): Domestic automobile sales, Reserve Bank of India, Society of Indian Automobile Manufacturers (SIAM)
   
 
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