India sets pace for auto sales in May
Automobile sales in the country during May grew the fastest in the world with a 30 per cent growth in domestic sales over the same month last year.business Updated: Jun 09, 2010 22:48 IST
Automobile sales in the country during May grew the fastest in the world with a 30 per cent growth in domestic sales over the same month last year. This was higher than the growth in China — the world’s biggest automobile market grew by 26 per cent last month.
The domestic growth was led primarily by robust demand for motorcycles and cars during the month that exceeded industry expectations. The changeover from BS III to BS IV emission norms in 13 big cities of the country in April was expected to dampen sales but nothing of that sort has happened so far.
Total sale of automobiles stood at 12.1 lakh during the month against 9.3 lakh in May 2009. Car sales registered a 30.5 per cent growth at 1.49 lakh units while two wheeler sales grew 28.7 per cent at 9.4 lakh units. Sales of trucks and buses grew 57.7 per cent at 48,580 units.
Exports registered their fastest growth ever in a month at 50 per cent with 1.8 lakh units.
“The good growth witnessed over the last few months is indication that the economic growth is very sound,” said Vishnu Mathur, director general, Society of Indian Automobile Manufacturers.
“With monsoons expected to be normal, the growth should continue, though statistically there will be a moderation. By the end of the year, the overall growth should be between 15-25 per cent.”
First Published: Jun 09, 2010 22:47 IST