Festive season purchases during October led auto sales to a recovery path but was not enough to take it to positive territory with the Indian automart.
NEW DELHI: Festive season purchases during October led auto sales to a recovery path but was not enough to take it to positive territory with the Indian automart registering a 0.65 per cent decline in overall vehicle sales.
According to figures released by the Society of Indian Automobile Manufacturers (SIAM), total vehicle sales in the country in October stood at 10,10,963 units against 10,17,611 units in the same month last year.
Hit hard by rising interest rates sales growth, specially that of motorcycles remained negative, while that of cars managed to increase on the back of majors like Maruti Suzuki India (MSI) and General Motors India (GMI) posting healthy numbers.
SIAM said domestic passenger car sales in October was at 1,05,878 units, compared to 92,389 units in the corresponding period a year ago, up by 14.60 per cent.
On the back of heavy discounts for the festive season, market leader MSI continued to post double digit growth at 55,731 units in October against 47,994 units in the same month in 2006, up 16.12 per cent. GMI also posted close to a four-fold jump in sales at 4,370 units against 1,142 units in the corresponding period previous year.
Tata Motors registered 10.14 per cent growth at 14,011 units against 12,720 units in the same month a year earlier. Hyundai Motor India, however, clocked a marginal decline at 18,197 units against 18,563 units last year.
Motorcycle sales continued to be in the red posting a decline of 6.74 per cent at 6,57,874 units, against 7,05,467 units in the corresponding month of the previous year.
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