Automobile industry to depicts 12-13% growth for this fiscal

As per the statement made by car industry body, the Indian auto market is expected to run at a rate of 12-13 percent in the present fiscal. Talking about the last fiscal, the Indian auto industry went through the best sales and now in this year it is expected to come up with even better news for auto majors by offering a growth of 12 to 13 per cent. If the two years are compared, 2010 brought a growth of 30 per cent, one of the best in the industry. The same stand out figures might not be achieved in this fiscal but a progress of 12 to 13 percent is nothing less as per the industry body.

The reports given by Society of Indian Automobile Manufacturers, a hike of 24.4 % was observed in the car sales in March. The report also claimed that the growth marked in the month of March was a result of growth in the population of middle class segment in India. This was also possible through the availability of easy loans and range of choices available in the market.

SIAM reports also suggested that Indian auto manufacturers were also able to mark a total sale of 194,199 cars in the same month. The total sales achieved by this industry in the complete financial year were 1,982,702 units. 15.4 % progress was also observed in the segment of trucks and buses sales which makes one of the important segment in the country’s economy.

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