Domestic car sales surge 15% in Aug
10/09/2014 12:18
Sales of passenger cars in India rose at a robust pace last month, a sign that the automobile sector is scripting a recovery as consumer sentiment improves amid a pickup in growth in Asia’s third biggest economy, and a stable government. Passenger car sales in the domestic market climbed by 15.16 per cent to 153,758 units in August 2014 from the same month a year ago, data from the Society of Indian Automobile Manufacturers (SIAM) showed. In August 2013, sales of passenger cars in the country stood at 133,513 units, the report added. Sales of motorcycles in the country rose by an impressive 14.45 per cent to 910,312 units in August 2014 from the same month a year ago. In August 2013, sales of motorcycles stood at 795,411 units. Sales of two-wheelers in India rose by 19.22 per cent to 13,45,506 units in August 2014 from 11,28,631 units in the same month a year ago. Total sales of commercial vehicles, however, fell by 5.59 per cent to 48,473 units in August 2014 from 51,344 units in the same month a year ago. The revival in car sales comes even as consumer wallets’ remained constrained by high inflationary pressures while elevated interest rates continue to pinch.
10/09/2014 12:18
Sales of passenger cars in India rose at a robust pace last month, a sign that the automobile sector is scripting a recovery as consumer sentiment improves amid a pickup in growth in Asia’s third biggest economy, and a stable government. Passenger car sales in the domestic market climbed by 15.16 per cent to 153,758 units in August 2014 from the same month a year ago, data from the Society of Indian Automobile Manufacturers (SIAM) showed. In August 2013, sales of passenger cars in the country stood at 133,513 units, the report added. Sales of motorcycles in the country rose by an impressive 14.45 per cent to 910,312 units in August 2014 from the same month a year ago. In August 2013, sales of motorcycles stood at 795,411 units. Sales of two-wheelers in India rose by 19.22 per cent to 13,45,506 units in August 2014 from 11,28,631 units in the same month a year ago. Total sales of commercial vehicles, however, fell by 5.59 per cent to 48,473 units in August 2014 from 51,344 units in the same month a year ago. The revival in car sales comes even as consumer wallets’ remained constrained by high inflationary pressures while elevated interest rates continue to pinch.
