Car companies enjoying recession! Thanks to stimulus packages

Car companies are enjoying recession time! Surprised to listen the news. But its true. For the consecutive fifth month, car markers saw robust sales in April. Two wheeler companies are not far behind. Thanks to the government’s stimulus packages, cuts in lending rates and as elections boosted demand for vehicles, especially jeeps and SUVs. Maruti Suzuki, Hyundai Motors, Mahindra & Mahindra and Honda Seil announced their results and all registered positive growth rate. Maruti Suzuki India Ltd, largest passenger car manufacturer, has registered 15 per cent growth in sales at 71,748 units sold in April as compared to 62,336 units in the same period a year ago.  While its competitor Hyundai Motors sold 4% more this year. Mahindra & Mahindra (M&M) bettered its sales up by 36 per cent. Honda Siel Cars India (HSCI) posted a 7.5% increase in sales to 3,656 cars during April. M&M, which saw its sales double in April from the monthly average of 10,000 units in the past fiscal year, attributed it directly to the election demand.