Auto Market India vs. International

Wednesday 07 July 2010, 00:00 AM by Payal Pathak

Indian auto market is booming and sales have declined to show any slow down despite four major price hike within first six months of the current calendar year. Nearly every major auto maker in India has posted robust sales . However, scenario in the international market remains bleak as auto market refuses to show any healthy prospects in near future. Hyundai Motors has already started looking for fresh markets after its sales in Europe continue to show a decline and exports from India continue to slow down. European market has so far remained the largest market for Hyundai and Suzuki Motors.

U.S. auto sales slipped in June from the previous month and major automakers said there was no sign of the second-half recovery the battered industry had expected at the start of the year. China sales has taken over the US sales for the first time, stated General Motors in an official statement. Although June 2010 sales were up in the US market but the overall sales figures remained in single digit and showed very limited recovery.

The international market refuses to show any immediate signs of recovery, speculate industry experts. "June came in fairly anemic," said Al Castignetti, who heads Nissan brand sales in the United States. "I think a lot of people are looking at housing and other indicators and just delaying big-ticket purchases."