Car sales in India slide 10.08% in August

August turned out to be a sad month for automobile manufacturers as Indian car market went gloomy with the sales. Car sales in domestic market plunged to a worse 10.08%. Even the overall manufacturing sector is on decline in India this year. Treading the same path, car sales witnessed a dark month in August.

According to figures released by the Society of Indian Automobile Manufacturers (SIAM) on Friday, car sales in India declined to 1,44,516 units in August, 2011 from 1,60,713 units in the corresponding month last year. However, total sales of vehicles across categories registered a growth of 11.85% to 1,412,945 units in August as against 1,263,239 units in the same month last year.

The downfall is evident from the fact that sales of Maruti Suzuki India fell by 12.7% in August. Tata Motors witnessed a three percent downfall in its August sales. Both domestic and export sales of the company fell down whereas Hyundai Motors secured a minimal 1 percent growth for itself.

Earlier also SIAM reported that the growth rate of auto industry during April-July period was 13.55% but for the specific period of June-July the rate was lowest in two years and now August met the same fate. However, SIAM clarified that sales of commercial vehicles grew by 22.62 per cent to 64,248 units in August under review from 52,394 units in the year-ago period.