Sales pick up
Among other leading names in auto market, Hyundai, Tata Motors and Toyota have also clocked good figures and indicated that sales in the next fiscal year could be robust, ending the lull that existed through the past year. Car purchases in the world's second-fastest growing car market had slowed down last year owing to rising cost of fuel and loans.
Mahindra and Mahindra January sales rose by 22% at 44,717 units from 36,718 units sold during the corresponding month of 2011. These developments have spread cheer through the sector.
MSI’s figures indicated that domestic sales had risen by 0.6% to 1,01,047 units while export figures rose 54%, to 14,386 units. Arvind Saxena, director - Marketing and Sales at Hyundai Motor India Ltd (HMIL) said to the media that the current year has set off on a positive note and domestic sales are depicting buoyancy. However, he cautioned that the Indian auto sector still has to keep a safe watch on how the momentum picks up in the months to come.
On a more cautious note, Mayank Pareek, managing executive officer (Marketing and Sales) at MSI said to the media that the fundamental weakness like high fuel cost and interest rates still existed in the market and there is some discrepancy in the demand for petrol and diesel vehicles.
Sandeep Singh, managing director (Marketing) at Toyota Kirloskar Motor (TKM) said to the media that robust sales figures have ensured a good start for the year. TKM has received good response to its Etios, new Innova and new Fortuner series.
According to Society of Indian Automobile Manufacturers’ estimation, domestic passenger sales grew by 4.24% in 2011 to 19,46,373 units from 18,67,246 units in 2010.
Priyanka Roy Chowdhury |
The sagging fortune of the domestic car market has elevated this new year, as for the third straight month in January 2012 the sector clocked positive growth. Country’s largest car manufacturer Maruti Suzuki India (MSI) posted its first rise in nearly 8 months. 
