The dream run of car-market to continue through-out the year

The passenger car segment in India, which is witnessing a high growth scenario since the starting of this year, is expected to continue its dream run in the remaining months of this year also, thanks to the easy availability of car loan and more frequent car launches by the automakers. If we take a look at the performance of the Indian passenger car market in the recent past we can easily witness the upward rising growth graph in the period of last 4 months.

Where in January the industry grew 33% as against sales of the same period of 2009, In February the figure was 32 percent. However, in the month of March the growth percentage dipped a bit to 20% due to a 2% excise duty hike by the government in that period, which in turn forced the car makers to hike the price of their respective cars in India.

Where Maruti Suzuki, the largest car maker in India, grew by 23 per cent in April as compared to the sales in April 2009, the Hyundai India registered a growth figure of 28.10 per cent in the same period. While Tata Motors, the largest car maker in the country as per total revenue, registered a rise of 77.7 per cent in its sales, in the period of April 2010.

The major factor which attracted car buyers in this period was launch of a series of new cars in India which raised a price war among leading car-makers, which in turn benefited the consumers the most. The cars which made a remarkable debut in the country's car-market includes Chevrolet Beat in January, Ford Figo in February and Volkswagen Polo in March. To compete with these newly launched cars, Maruti Suzuki Also launched an all new and updated version of Maruti Wagon R in last month.

According to market watchers, the growth momentum will remain through-out this year as a number of cars are all set to hit the Indian roads, that includes Nissan Micra, Maruti Servo, Skoda Yeti and Toyota Etios. 

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