Car makers witness accelerated sales growth in October

Records are being made in the Indian auto sector and the Indian auto market is witnessing an all time high. October has been a record breaking month for various cars rolled out from number of automobile brands.

As per Abdul Majeed, auto practice leader at Pricewaterhouse Coopers (PwC), the sales of cars is expected to grow more. The reasons for further growth will be increase in the income sources, consumers are more open on purchasing, satisfaction, easy finance and variety of cars to choose from. The sales went high because of the demand in the festive season and easy loans are available to the consumers. As per the Society of Indian Automobile Manufacturers, the demand for cars has gone up to more than 30 per cent and is expected to be twice which will count to as many as 3 million cars by 2015.

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Maruti Suzuki India has touched the milestone of one lac car sales in the auto market. For the first time, it has happened in the 27 years of its extensive period in the market that it crossed the one lacs mark with its winning cars Maruti Alto and Maruti WagonR. These fuel efficient cars are the top selling brands of India.

Well Mahindra & Mahindra are also rejoicing with its positive sales graph. The company recorded a growth of 34 per cent which is quite higher than the previous year. The sales of two-wheelers also shot up to a whooping 212 per cent, accounting for a sale of 21,204 vehicles in the month of October. Rajesh Jejurikar, chief executive of the automotive division, from Mahindra & Mahindra said that, the passenger UV has recorded a growth of 21 per cent.

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Tata Motors is shining high with sale of 24,478 cars, recording a growth of 22 per cent in October. Tata Nano could not keep up the show as only 3,065 cars were sold in October. Tata Nano poor report card is also because of the number of accidents it has reported. The sale of the mini car is falling continuously from July.

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Hyndai sales in October were 34,725 cars which recorded a growth of 23 per cent. Arvind Saxena, the director of marketing and sales, Hyundai Motor India Ltd., said that, the Indian market is very promising and sales are going high, but the new model of Hyundai i10 has really pumped up the sales in volume for the Korean auto giants.

The market is likely to grow more, but there can be small pitch in this growth. The sales may get affected with the price of the raw materials going high. And with the increase in the production prices there is a great possibility of price hike of the vehicles.

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