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SIAM : New Year May Lose Gear In Auto Sales
The hiked interest rate on passenger vehicles was 14.5% and 18% for commercial vehicles. He hinted that this might still increase further in another six months causing a grave concern. This may hit maintaining the same growth rate of 30% for the remaining period, he said further. The overall growth rate in the past decade is accounted as 12-13% which can be easy to secure, but 15-16% for a five year period would be difficult to achieve, he said. The data revealed by SIAM indicated an increase of volumes in the auto segment with 14.8 million units in the 2010 calendar year. It was 4.7 million at the beginning of this decade making the simultaneous increase in the domestic revenue to billion from .5 billion in 2000.
SIAM released the split up figures as 28.91% rise for passenger cars with the auto sales of 1,48,681 units in December 2010 against 1.15.337 units in December 2009. Of the manufacturers, Maruti Suzuki got the larger volume with 75652 units making a rise by 20.74% against 62653 units in the corresponding period of the previous year, said SIAM. For Hyundai Motor, the sale volume for the said period was 26,066 units from its auto sales in December 2009 making a rise by 17.14%. Tata Motors fetched an increase of 30.87% by selling 16941 units in the same period.
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