The Hindu Business Line : Executive segment car sales rev up 141 pc

THE world's largest selling car, Toyota Corolla, and Chevrolet Optra, helped by its 1.6-litre version, powered the sales growth of the executive segment by a record 141 per cent during the first six months of the calendar year. The executive segment is made up of Corolla, Optra, Skoda's Octavia and Hyundai Elantra.

During the first six months of the year, the executive segment recorded a sales of 15,224 units compared with 6,309 units during the same period in 2003. Though Corolla continues to lead the pack, it was joined by two new entrants, Hyundai Elantra, launched this year, and Optra, launched last July.

Corolla's sales grew a record 49 per cent to 5,114 units during the first six months of the year compared with the previous corresponding period. Skoda Octavia sold 3,276 units, recording an increase of 14 per cent over the previous period last year. Elantra received a huge initial response with sales of over 700 units in the first month; within three months of its launch, it recorded sales of around 2,100 units.

But the surprise packet was General Motors' Chevrolet Optra, which recorded significant sales between March and June 2004, overtaking the market leader, Corolla. During the same period, Optra, powered by the 1.6-litre version, sold a total of 3,557 units, grabbing a market share of 25 per cent. Corolla's share was around 23 per cent, or 3,351 units. Between January and June 2004, Optra sold 4,944 units. The competition in the executive segment is getting tougher, with carmakers introducing newer variants to get a larger share in the market. "This segment is showing a healthy growth over the last year and carmakers are trying various strategies to pump up sales," an auto analyst said.

Toyota plans to sell around 12,000 units of Corolla this year, which is nearly 33 per cent more than last year, while General Motors plans to sell around 12,000 units for 2004. Skoda expects to sell around 7,900 units of Octavia during the year while Hyundai hopes to sell around 8,000 units.