Financial Daily from THE HINDU group of publications
Tuesday, Mar 14, 2006
Industry & Economy
Marketing - Trends
Car sales growth at 1.83% in Feb
New Delhi , March 13
Passenger car sales witnessed flat growth in February as consumers postponed purchase decisions anticipating a cut in excise duty on cars in the Union Budget.
According to figures released by the Society of Indian Automobile Manufacturers (SIAM), domestic passenger car sales rose by 1.83 per cent in February this year at 63,215 units compared with 62,073 units in the same month a year ago.
MUL, Hyundai sales slow
The flat growth in car sales was mainly on account of a slowdown in sales of major players, Maruti Udyog and Hyundai Motors, whose sales declined by 3.71 per cent and 7.7 per cent respectively.
Tata Motors, however, managed to increase sales by 12 per cent at 14,201 units as against 12,671 units in February last year.
Cumulative passenger car sales for the April-February period this year increased by 5.5 per cent at 7,71,116 units against 7,30,455 units in the corresponding period a year ago.
Mobikes rev up
Motorcycle sales however maintained their growth momentum rising by almost 17 per cent to 4,97,280 units (4,25,077 units).
Hero Honda continued to lead with 11.46 per cent sales growth at 2,41,232 units (2,16,424 units).
Bajaj Auto also had high growth of 33 per cent at 1,57,386 motorcycles (1,17,947 units).
2-wheeler sales jump
Overall two wheelers sales in the domestic market jumped 15.57 per cent in February at 6,00,877 units compared with 5,19,900 units in the same month last year.
In the commercial vehicles segment, sales during the month surged by 19.16 per cent at 35,049 units (29,411 units).
The medium and heavy commercial vehicles (M&HV) segment grew by 17.61 per cent at 21,223 units (18,044 units).
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