Domestic car sales grew by 15.37% in August

In the past nine-month the Indian auto industry witnessed a streak of decline, now after such long slum, the domestic passenger car sales grew by 15.37 per cent in August 2013. The automotive companies sold a total of 133,486 units in August as compared to 115,705 units in the same month last year. Society of Indian Automobile Manufacturers (SIAM), however, played down the feat saying the growth was mainly due to low base effect as a result of the month-long lockout last year at the country's largest car maker Maruti Suzuki India's Manesar plant.

"This (growth) is not a reflection of the market conditions. This is mainly due to Maruti’s numbers compared with last year. Tough market conditions still remain. Interest rates are high, fuel prices continue to be high, while sentiments are extremely low,” Siam deputy director general Sugato Sen told reporters.
 
He said the positive growth seen in August is unlikely to be sustained in September and a recovery in the market is expected to happen only in the next couple of quarters. “For this fiscal, we are staring down at a negative growth of car sales. If we have to match last year’s 2.7 million units, we need to be selling over 200,000 units each month but in the last three months, we have sold less than that,” Sen added.
 
Maruti has sold 63,499 units in August 2013 as against 31,653 vehicles in the same month last year. Hyundai Motor India, the country's second largest car manufacturer has registered a marginal hike in car sales during the month at 28,281 units as against 28,192 units last year. The homegrown automajors, Tata and Mahindra & Mahindra also witnessed a negative growth in August 2013.

Source : CarDekho - Caterham 7 - Domestic car sales grew by 15.37% in August