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Car Makers Go On Dizzy Spree Sale
The net sale of auto vehicles in October 2010 included autorickshaws, three-wheelers, commercial vehicles and the exact figure was 14.6 lakhs against 13.3 lakhs achieved in September 2010. The trend seems to show an upward growth in the years to come, say the auto analysts. The companies will benefit out of the purchase power of the people and less level of vehicle penetration in the domestic auto market. This made SIAM to modify the projections to 20 percent growth though it is simultaneously expected that the sale in the remaining period of this fiscal would not be the same.
SIAM accounted an achieved growth of 46 percent in October aided by the successive festivals. At the same time the growth rate may not be similar in the coming months, said SIAM"s Director general. On the other hand, SIAM projects that there will be 21-23 percent growth in car and SUV segment with the sale volume peaking to 2.4 million units. It was 12-13 percent from SIAM"s projection as the car companies seek increase in the sale momentum in November too. This was corroborated by the Chief GM of Maruti"s sales wing that the sale in November will boost the net sale.
The situation in the two wheeler segment too brisk with the top most sale volume of 11.27 lakh units, indicating a growth of 50 percent (against the one in October 2009). The major contribution came from the scooter sector scoring a doubled sale to 188633 units.
The most beneficiaries out of these sale growth are Honda Motor and Suzuki Motorcycle operating in India. The VP of Suzuki Motorcycle claimed that company"s scooter Access 125cc has a wait period of three months. SIAM projects that the sale volume of two wheelers will peak to 11 million units by the end of this fiscal. The only exception to miss the anticipated growth is the heavy vehicle sector consisting bus and trucks. The segment witnessed a growth of 13 percent by selling 21807 units against the figures of October 2009. However, this volume is less compared to the one achieved in the previous month in this year.
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