Auto Sales in India Take a Dip in October

Tuesday 04 November 2008, 00:00 AM by Satish

Car and two wheeler sales in India took a dip in the month of October. Although the companies had been eyeing the festive season to move their stocks and clear their inventories, the ongoing economic scenario compelled the small car segment buyer away from the market. The auspicious day of “Dhanteras” marked sales of 15000 units across the country which was lesser than last year’s sales of 17000 units on the same day.

Maruti Suzuki and Tata Motors have already reported a drop in sales in the month of October 2008. These two car manufacturers have stated that the market is seriously hurt by the rising interest rates and the overall credit crunch in the market. Maruti reported sale of 64,490 units in October 2008 as against 69,415 units last year.

On the other hand, the major two-wheeler manufacturers, Hero Honda, Bajaj and TVS Motors have also reported a decline in their sales in the month of October 2008. On the brighter side, the exports figures have lent a serious support to the sales figures of especially Bajaj and TVS Motors. The overall market sentiments remain hopeful for the next year and the auto industry hopes for better year ahead.

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