Indian vehicle sales soar 37%
By Erika Kinetz |
August 10, 2010, Tuesday
|
Print Edition
Print Edition
VEHICLE sales in India jumped 37 percent in July as domestic demand remained strong despite rising prices.
Car sales alone rose 38 percent in July over a year earlier to 158,764 vehicles, the Society of Indian Automobile Manufacturers said yesterday. Commercial vehicle sales rose 37 percent to 51,481 vehicles.
Growth was helped by slow sales this time last year as well as buying ahead of India's festive season and a change in emissions norms in October which promises to raise prices.
"Sales are pretty good," said Angel Broking analyst Vaishali Jajoo. "The economy is back in a positive direction and normal monsoons also support it."
Vehicle exports rose 9.2 percent in July thanks to strong commercial vehicle performance.
But car exports rose only 2.1 percent, as companies? like market leader Maruti Suzuki? facing capacity constraints, put India's fast-growing market first. "Maruti diverted its sales toward domestic demand because it has a capacity constraint on the export front," Jajoo said.
Ford exported its first Figo cars from India to South Africa on July 5, sending a consignment of 1,200 vehicles.
Car sales alone rose 38 percent in July over a year earlier to 158,764 vehicles, the Society of Indian Automobile Manufacturers said yesterday. Commercial vehicle sales rose 37 percent to 51,481 vehicles.
Growth was helped by slow sales this time last year as well as buying ahead of India's festive season and a change in emissions norms in October which promises to raise prices.
"Sales are pretty good," said Angel Broking analyst Vaishali Jajoo. "The economy is back in a positive direction and normal monsoons also support it."
Vehicle exports rose 9.2 percent in July thanks to strong commercial vehicle performance.
But car exports rose only 2.1 percent, as companies? like market leader Maruti Suzuki? facing capacity constraints, put India's fast-growing market first. "Maruti diverted its sales toward domestic demand because it has a capacity constraint on the export front," Jajoo said.
Ford exported its first Figo cars from India to South Africa on July 5, sending a consignment of 1,200 vehicles.
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