Passenger car sales fall by 9.26% in August

The slowdown in the Indian automobile sector continued in August with passenger car sales falling by 9.25% at 182,402 units from 201,034 units in the like period last year.

According to sales data furnished by Society of Indian Automobile Manufacturers (SIAM), the domestic passenger car sales too fell by 10.07% at 144,516 units in August from 160,713 units in the corresponding period of 2010.

SIAM officials said that the car sales were most impacted due to rising fuel prices and interest rate cost.

'The sales are impacted due to high interest rates and rising fuel prices but we expect it to rise on account of the festive season," senior SIAM official said

But car exports showed positive trend with a rise of 35.24% at 49,341 units in August as against 36,483 units in August, 2010.

The sales of passenger vehicle segment including passenger cars, utility vehicles and vans in the month under review fell by 4.89% at 234,093 units from 246,146 units.

However, the overall automobile industry including all the segments of vehicles, two and three wheelers' sales grew by 12.67% at 1,682,193 units as compared to 1,493,018 units in the like period of last year.

The commercial vehicle segment grew by 29% at 76,438 units as compared to 59,342 units in August, 2010.

The three-wheeler segment posted a growth rate of 8.79% at 77,252 unit as compared 71,008 units in the like period of last year.

The total two-wheeler segment which includes motorcycles, scooters and mopeds grew by 15.93% at 1,294,410 units in August as against 1,116,522 units in the corresponding month of last year.

The motorcycle segment also posted an healthy increase of 14.34% at 1,009,830 units in August as against 883,145 units in the corresponding period of last year.