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Indian Car Industry Expected to Grow 25%

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On: Wed, Jun 2, 2010 at 9:50AM | By: Michael Jon Lazar


Indian Car Industry Expected to Grow 25%

According to a late May report published on BS Motoring, “The passenger vehicle industry is poised to record another good month in May, at an estimated 25 per cent growth in sales vis-à-vis the same month last year. This came on the back of a low base, revival in demand and a larger number of models compared to the same period last year. However, the absolute numbers are likely to be slightly lower than in April, when the industry registered its highest-ever growth of 33.9 per cent, at 1,82,182 units, in a decade.”

So indeed, as you can see, even in April the industry recorded its highest growth ever, in the history of auto-making. Hardly something that you would say is a decline, or stunted growth. So it does look like the carmakers are really pushing to get new cars and used cars on the road as more consumers recover from the recession, and finally undo those belts that they have had so tight over the past few years in order to meet their monthly obligations. In short: More people are buying more new cars, and that’s a really good thing!

In the same BS Motoring report, Vishnu Mathur (the director-general of the Society of Indian Automobile Manufacturers) projects the sales boom to keep going, “With new emission norms and the confusion pertaining to it, there have been fluctuations in sales in May and we expect the sales would be the same or slightly lower than April. However, it will continue to be significantly higher than May last year and we expect the growth momentum to continue.”

The industry for new cars and used cars in India looks pretty good, too. According to Arvind Saxena, the director of sales and marketing at Hyundai Motor India, who stated in the same BS Motoring report that, “We should see mid double-digit growth in May, with the i10 and i20 being in great demand.”

And growth for GM is looking up as well in India. P Balendran, the vice-president of GM India explained in the same article on BS Motoring that, “While the wholesale numbers would be the same or slightly lower than April, retail sales are expected to be higher, as companies are offering discounts on several models.”

GM projects that they will have sold around 8,000 units, in India during the month of May.


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