Nearly all auto manufactures in India are expected to post their highest sales in the current year in the month of October. Car sales have jumped more than 30 percent in October 2009 as compared to the same month last year. Customer sentiments are strong in the market and October sales are expected to surpass the September 2009 figures as well which was 1.67 lakh passenger vehicles last month.
There had been a strong demand in the market during the festive season in October and inventories have not only depleted but there is a waiting period of 20 days to 4 months on various models from different auto manufacturers. Maruti Suzuki India Limited sells every second car in the country. It expects a net jump of at least 25 percent over October 2008 sales figures. “We shall definitely cross the 25% growth mark this month. Despite production constraints, affected by some labour issues at few of our vendors, we expect handsome gain in sales,” said Maruti chief general manager (marketing) Shashank Srivastava.
Auto industry in India also expects better performance figures for 2009-2010 as bank have also reduced their interest rates. The government had also revised tax reliefs on small cars apart from availability of easy finance schemes. “It was one of the most timely steps that revived demand and customer sentiment,” said Society of Indian Automobile Manufacturers’ (SIAM) director general Dilip Chenoy. As the sales remain robust in India, demand is expected to grow further supported by strong customer sentiments.
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