Indian Auto Industry showing a very healthy 30% increase in domestic sales during May 2010.

By Priya Devi

Published: Friday, June 11, 2010, 11:30 [IST]

Indian Auto Industry is in its golden period. Thanks to the booming economy in India and easy loan processing by the local banks. During May 2010, Car sales have shot upto 1,48,481 units. This is 34000 units increase when compared to last year sales.

With the onset of Monsoon, the demands for cars and televisions from the rural market will increase in the couple of months. As per the Finance Minister of the country, there will be steady 8.5% growth in the 2010-2011 fiscal year despite of the euro zone issues, the only condition being the proper summer monsoon.

On the other side, companies like Maruti Suzuki and Tata Motors are worrying on the increase in raw materials like the pig iron and steels. Mr. Mathur, the Director General of SIAM said that if steps are taken to control money supply that will certainly have an impact in the market. As of now the availability of finances and stable interest rates eases the purchase of commodities.

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Article Published On: Thursday, June 10, 2010, 17:47 [IST]

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