“Fundamentals such as interest rates, availability of liquidity and products remain favourable. We expect the automobile industry to record an average growth between 25 to 30 per cent this fiscal,” he said.
According to data available, domestic passenger car sales increased by 20.79 per cent to 1,61,497 units in November, compared to 1,33,703 sold units during the same month last year.
THE COMPARATIVE STORY Nov ‘09 Nov ’10 Increase (%) Passenger cars 133,703 161,497 20.79 Two-wheelers 790,613 930,370 17.68 Commercial vehicles 40,885 48,314 18.17 Three-wheelers 39,020 40,420 3.58
Maruti Suzuki India Limited, the country’s largest car manufacturer, continued to post healthy numbers with domestic sales going up by 29.25 per cent to 87,618 units from 67,786 units reported during the same month last year,
Overall, two-wheeler sales grew by 17.68 per cent to 9,30,370 units last month as compared to 7,90,613 units sold in November 2009. Motorcycle sales, in the meantime, increased by 15.61 per cent to 7,10,182 units from 6,14,274 units in the same month last year. Hero Honda, which sells one of every two motorcycles in the country, witnessed a growth of 6.95 per cent at 3,82,138 units. Bajaj Auto gained at 1,93,174 units, up 18.67 per cent from the corresponding month last year. TVS Motor Co had sold 49,534 units, up 50.34 per cent from the same month last year.
The commercial vehicles segment carried forward the upward trend that began in July 2009, with sales in November going up by 18.17 per cent to 48,314 units from 40,885 units in the year-ago period. Sales of light commercial vehicles surged by 22.67 per cent in November to 26,359 units from 21,486 units. Medium and heavy commercial vehicle sales rose by 13.35 per cent to 21,955 units.