The car sales in the Indian automobile industry witnessed a dip for the consecutive second month in August 2011, after registering a considerable fall in July this year. The major contributors to this falling demand for cars in the Indian market are high fuel prices and increased interest rates on auto loans. After registering a fall of 16 percent in July2011, the industry witnessed a dip of 10 percent in the month of August, this calendar year.
The sales of country’s largest car maker Maruti Suzuki saw a steep drop of 19.21% in the domestic market to 63,296 units. While Maruti faced a tough time due to worker’s strike at Manesar plant during this month, the country’s largest vehicle maker Tata Motors kept a two week long maintenance shutdown in August 2011. Sales of Tata Motors dipped 39.45% decline to 13,508 units. On the other hand, the second largest car maker Hyundai India witnessed a fall of 7.51% in the domestic market.
According to a statement given by Mr. Vishnu Mathur, Society of Indian Automobile Manufacturers' (SIAM) Director General, "Production has also been affected with large players not able to churn out optimum production in August."
Unlike the car market, the two-wheeler market kept growing at a considerable pace during this month with registering a growth of 16% to 11.11 lakh units, as per data released by the company. The two-wheeler segment leader Hero Moto Corp registered a sales surge of 20% to 4,62, Car sales in India dip for consecutive second month in August 2011
The car sales in the Indian automobile industry witness a dip for the consecutive second month in August 2011, after registering a considerable fall in July this year. The major contributors to this falling demand for cars in the Indian market are high fuel prices and increased interest rates on auto loans. After registering a fall of 16 percent in July2011, the industry witnessed a dip of 10 percent in the month of August, this calendar year.
The sales of country’s largest car maker Maruti Suzuki saw a steep dip of 19.21% in the domestic market to 63,296 units. While Maruti faced a tough time due to worker’s strike at Manesar plant during this month, the country’s largest vehicle maker Tata Motors kept a two week long maintenance shutdown in August 2011. Sales of Tata Motors dipped 39.45% decline to 13,508 units in the country. On the other hand, the second largest car maker Hyundai India witnessed a fall of 7.51% in the domestic market.
According to a statement given by Mr. Vishnu Mathur, Society of Indian Automobile Manufacturers' (SIAM) Director General, "Production has also been affected with large players not able to churn out optimum production in August."
Unlike the car market, the two-wheeler market kept growing at a considerable pace during this month with registering a growth of 16% to 11.11 lakh units, as per data released by the company. The two-wheeler segment leader Hero Moto Corp registered a sales surge of 20% to 4,62,196 units.
