The month of July witnessed a drop in car sales this year. During the same period, two wheelers managed to display a positive growth of 19.47 percent during the same period. According to a report released by SIAM, the reduction in growth in car sales is because of a surge in fuel prices, high interests, and cash crunch faced by the automobile industry.

Feelings in the automobile industry have been hit because the industry is planning to rethink its target of tripling its annual sales to 3 million vehicles by 2016. This can be seen in the figures posted by the automobile industry for the month of July.  In this period, the sales of Tata Motors fell by 8.9% to 12,012 units, while the sales of Honda Siel decrease by 7 % in July. At the same time, two leading car manufacturers posted growth in sales. While Maruti Suzuki India grew by 0.1% to 52,911 units in July, Hyundai posed a growth of 0.5% to 15,066 units in July compared to that of last year.

Comparatively, the motorcycle segment sold nearly 6 lakh units in July. While the market leader Hero Honda sold 2.6 lakh units, Bajaj showed a slight decline at 1.13 lakh units. Other motorcycle majors like TVS, HSMI, and Yamaha continued to post positive growth.

Add a comment

Posted by Jigar Gondalia on 13 August, 2008 12:32:54 PM IST #