10.2.10

January 2010 auto sales


Car sales raced to a record monthly high in January on easier retail financing, economic recovery and new model launches. According to figures released by Society of Indian Automobile Manufacturers, car sales in January stood at 1.4 lakh units, a 32% growth over 1.1 lakh units sold in January last year. As many as 15 of the 16 companies reported growth, including Maruti, Hyundai, Tata Motors and GM. The positive numbers were spread across the product spectrum as high growth was seen in two-wheelers, commercial vehicles and three-wheeler sales. Total automobile sales in the domestic market was up 45% at 11.1 lakh units against 7.6 lakh units in last January. Analysts said fear of a tax hike in the Budget also aided the growth. In two-wheelers, motorcycle sales increased to 6.5 lakh units against 4.5 lakh units in last January. The gains were led by segment leaders Hero Honda and Bajaj Auto. In scooters, the growth rate was similar to motorcycles as sales were up 45% at 1.4 lakh units.

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