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        Automobiles Sector Fares Better in February

        Rishi

        Rishi

        According to the latest figures released by Society of Automobile Manufacturers, car sales figures rose by 21.8 percent in February from a year earlier. The car manufacturers sold 115,386 cars last month as compared to 94,757 units sold during the same month last year.

        The boost in the sales figures comes as a result of government’s stimulus package for the consumers. However, the sales figures of the commercial vehicles recorded a drop of 31.7 percent to 31,069 units.

        On the other hand, automobile manufacturers have started concentrating on the rural markets to push their sales. Urban markets have been more or less flat in past months while the rural markets still remain untouched from the credit crisis setbacks. “Much against the difficult sentiments in urban India, rural markets are booming,” Mayank Pareek, executive officer (marketing and sales) at Maruti, said. Rural markets’ share in Maruti’s overall sales during April-January 2009 has gone up to 8.5% from 3.5% in the same period last year. “And this is just the tip of the iceberg,” Pareek added.

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