Petrol Stop - Auto sales drive in fast lane on new launches

Auto sales drive in fast lane on new launches

Monday, 02 August 2010

03 August 2010;timesofindia.indiatimes.com:NEW DELHI: Auto companies continued with their smooth drive in July, backed by rising disposable income, soft interest rates and increased demand for new launches. Despite faced with stiff competition, Maruti Suzuki led the charge with 33% jump in sales in the domestic market to 90,114 units, against 67,528 units in the same month last year. The company's bread-and-butter small car portfolio, comprising of models like Alto, Wagon-R, Ritz and Swift, saw 33% rise in sales to 64,079 units. In June, the company had reported a 17% rise in sales, partly hit by a six-day shutdown of its plants for maintenance work, while sales grew 28% in May. The numbers were up for Hyundai and Tata Motors as well. For Hyundai, the growth rate was 24% as it sold 28,811 units in the domestic market against 23,193 units in the same month last year. "The market continues to be positive and in the next quarter we expect the trend to continue with the onset of the festive season," the company said. Tata Motors' growth has been riding on small wonder Nano, that is now being manufactured at the company's new plant at Sanand in Gujarat. Total passenger vehicle volumes for Tata Motors were up 62% at 27,864 units against 17,191 units in July last year, with Nano contributing 9000 units.