Car sales up 16 per cent in August
The passenger vehicles sales grew 20.58 per cent between April and August this year.india Updated: Sep 12, 2006 03:31 IST
The passenger vehicles sales grew 20.58 per cent between April and August this year with 5,19,842 units being sold compared to 4,31,116 units in the same period last year. However, passenger car sales rose 16.01 per cent in the domestic market in August to 83,844 units from 72,272 units in August 2005, according to the latest data released by Society of Indian Automobile Manufacturers (SIAM).
The motorcyle segment, which had witnessed a double digit growth for the last five years, showed signs of slowing down to just 3.43 per cent in August with 4,70,955 units being sold in the domestic market as against 4,55,311 units in the same period last year. The changing dynamics of the segment were obvious from Hero Honda suffering a 4.3 per cent decline in market share so far this fiscal even as the bike market has seen a near 16.96 per cent growth.
Hero Honda’s market share, which stood at 51.6 per cent in April-August 2005, has fallen to 47.3 per cent in the corresponding period this year. This is due to rivals launching new models and closing in as well as a general shift towards 125 cc motorcycles.
In a renewed market offensive, Pune-based Bajaj Auto Ltd reduced the price of its 100 cc model Platina by Rs 2,000. The top-end Platina will be available for Rs 35,000 as a part of festival season offer. Industry leader Maruti Udyog witnessed a 15.55 per cent growth at 41,728 units in August this year as against 31,117 units in August 2005.
Tata Motors also clocked an impressive 25.6 per cent growth during the month at 14,090 units as against 11,218 units last year. Hyundai Motor India managed to register a growth of 8.51 per cent during the month at 16,067 units as compared to 14,806 units in corresponding period last year.
Utility vehicles saw growth of 11.95 per cent in April-August this year with 81,284 units being sold compared to 72,609 units in the corresponding period last year.
Overall two-wheeler market grew 14.66 per cent with 30,36,624 units being sold between April and August this year as against 26,48,404 units sold in the same period last year. Three-wheeler sales grew 20.64 per cent to touch 1,60,501 units in the five months of the fiscal.