January vehicle sales zoom 19 percent

February 9th, 2011 - 6:06 pm ICT by IANS  

New Delhi, Feb 9 (IANS) Indian car and two-wheeler companies Wednesday reported a stellar 19 percent increase in sales figures for January, which stood at 13,22,979 units as compared to 11,14,692 units in the like period of last year. The figures, which were released by the Society of Indian Automobile Manufacturers (SIAM), point towards high growth in the automobile industry due to high disposable incomes of families and low-interest rates in a growing economy.

“These are very good growth figures, but somewhere the sales are showing signs of slowing down due to some factors like inflation and component supply bottlenecks,” a SIAM official told IANS.

According to him, sale of domestic passenger cars, including utility and multi-utility vehicles, grew by 24.68 percent and stood at 2,33,994 units as against 1,87,671 units in January, 2010.

However, the exports reported a dip of 14.69 percent, totalling 32,942 units this year against 38,616 units in the corresponding period of 2010.

Two-wheeler sales last month were 9,80,752 units, up 17.55 percent, as compared to 8,34,343 units in January 2010.

Two-wheeler exports reported a far better sales growth of 45.92 percent at 1,30,098 units from 89,159 units.

Commercial vehicles too reported good sales growth, with an increase of 12.58 percent at 60,753 units from 53,963 units in like period of 2010.

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