Auto Industry Sets A New Record This !i!i! Diwali !i!i!i!

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Festive season this year, especially October has put a big smile on many carmakers in India, as they recorded the highest sales in four years. In October 2015, a total of 1.9 lakh units of vehicles were sold in India, compared to 1.6 lakh units sold in October 2014, which is an increase of 22 percent.

In terms of sales, this is the 12th consecutive month that the automobile industry has seen growth, after a long slowdown in sales. Car launches such as the Maruti Suzuki Baleno, Renault Kwid, Ford Figo, and Ford Aspire are some of the key products driving sales.

Car sales data, according to The Society of Indian Automobile Manufacturers (SIAM), shows that SUVs and Utility Vehicles have seen an increase of 21 percent, which is 58,120 units in October 2015, compared to 48,105 units sold during October 2014.

Two-wheelers too posted good growth numbers. Scooters recorded 37 percent growth, having sold 5.2 lakh units, compared to 3.8 lakh units sold in October 2014. Motorcycles recorded minimal growth at 6 percent, which is 10.7 lakh units, compared to last year's 10 lakh units.

Good growth in the automobile industry such as this is key for automakers to have confidence in the Indian market. Looks like it was indeed a happy !i!i! Diwali !i!i! for all.

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Story first published: Wednesday, November 11, 2015, 14:53 [IST]
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