The automobile industry posted its best ever monthly sales in July with sales of over 12.37 lakh units. July Jump
The previous best ever monthly sales of 12.27 lakh units was achieved just three months back in March.
Overall sales grew 31.50 per cent during the month as passenger vehicle sales stood at 2.02 lakh units, a growth of 37 per cent over the same month in 2009. This is the first time that the segment sales have crossed the 2-lakh mark.
"The growth in the automobile industry during July was mainly due to good growth in the passenger car segment, scooters and mopeds as new model launches, penetration into rural markets and availability of finances continue to boost sales," said Vishnu Mathur Director General, Society of Indian Automobile Manufacturers (SIAM).
"The other high growth segment is the light commericial vehicle which has outpaced its heavier counterpart. Motorcycle sales on the other hand are stagnant."
Passenger car sales in July were also the best ever in a month at 1.59 lakh units, even as domestic car market leader Maruti Suzuki India Ltd posted its own best ever monthly sales. The company however, could not regain its 50 per cent marketshare, which it had lost for the first time ever in the April-June quarter.
Saled of trucks and buses, which reflect the state of the overall domestic economy, rose 37 per cent to 51,481 units in July. With monsoons proving adequate across the country so far, the commercial vehicle sector is likely to remain bullish.