After a long wait it seems that Indian automotive industry can finally look up to a time of positive growth in the industry. In May 2014, auto industry witnessed slight growth in sales which further rose to 14.76 per cent in the month of June. Last month sales of passenger vehicles in India stood at 1,60,232 units as against 1,39,634 units sold in the same month last year.
Society of Indian Automobile Manufacturers (SIAM) has reported rise in sales by 12.15 per cent in the month of June across categories of vehicles. In June 2013, a total of 14,07,875 units of vehicles were sold as compared to 15,78,884 units sold in June 2014.
Government’s decision to extend excise duties announced during the interim budget by the former Finance Minister has relieved auto makers in India. However, on the contrary rise in input cost is again a matter of worry for the auto cos in India. The current sales trend in India indicates at likability for new cars or facelfited versions of popular models. Car makers have been roping in decent sales on the back of new vehicles like Honda Cars India. Honda’s new City launched in January this year and Amaze compact sedan launched last year in India have been majorly driving sales of the company. Nissan too has been witnessing rise in sales thanks to its newly inducted low cost brand Datsun. Hopefully in upcoming months this positive sales trend will continue.
