Auto industry witnesses 33.2 percent growth in Aug 2010

The Indian automobile industry has witnessed yet another month of massive growth in the Indian market by accounting 33.2 percent jump in its total car sales during August 2010. The total car sales during this month stood at 160,794 units. On the other hand, the sales of the commercial vehicles, buses and trucks that has been considered a barometer of the total economic activity in the country stood at 52,030 units, accounting for a sales jump of 28.1 per cent over the sales of the same period last year.

The largest car maker of the country, Maruti Suzuki India Limited (MSIL) remained the biggest contributor in the industry's total sales by launching the CNG versions of five of its most popular India portfolio cars that comprise of Maruti Alto, Wagon R, Zen Estilo, Eeco and SX4. With this, the launch of new K-series engine equipped Alto K10 also contributed considerably in the total sales of the company during this month.

The industry has been showing bullish trends since the starting of this year by reporting highest ever sales growth in the first six month of this calender year. The launch of a series of new cars during this period kept pulling buyers to the showrooms across the country. The segment that has been benefited the most by this high demand momentum is the compact hatchback segment in which a series of new cars marked their entry including Chevrolet Beat in January, Ford Figo and Volkswagen Polo in March, New Maruti Wagon R in April, and Nissan Micra in July.