Passenger Car Sales Dip Further; Industry Troubled

Published: Friday, September 9, 2011, 14:29 [IST]

Passenger car sales in August continued to dip fuelling concerns about a long term slowdown in the industry. According to figures released by the Society of Automobile Manufacturers (SIAM) passenger car sales in India fell 10.08 per cent to 1,44,516 units from August 2010's sales figure of 1,60,713 units.

SIAM has revealed the motorcycle sales have jumped up 15.43 per cent to 8,39,772 units from the previous August's 7,27,542 units. Two wheeler sales on the whole stood at 11,11,340 units registering a growth of 16.1 per cent.

Commercial vehicle sales also poster positive results after 64,248 vehicles were sold ,marking a growth of 22.62 per cent. On the whole vehicle sales in India registered a 11.85 per cent growth in august when compare with August 2010.

Carmakers are finding it increasingly difficult to increase sales. Even the launch of new car modes has not shifted market trends. The increased interest rates and fuel prices continue to haunt passenger cars. Even the arrival of several diesel powered small cars has not yielded visible results. It remains to be seen if the festive season, on which several carmakers are banking to increase sales, will truly deliver expected results.

Article Published On: Friday, September 9, 2011, 14:29 [IST]

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