Month of May had been good for the passenger car sales in spite of escalating interest rates, hike in fuel prices, slowing economy and falling stock market. Domestic passenger car sales showed 14.26 percent growth in the previous month as compared to similar month last year. Automobile industry sold 110,743 units of passenger cars against the 96,293 units in the same month last year.
Society of Indian Automobile Manufacturers, sales of total domestic vehicles stood at 852,872 units against 789,041 units in the same month last year. Sales of Maruti Suzuki, auto leader in Indian market, rose by 16.13 percent to 57,315 units against 49,534 units in same month in 2007.
On the other hand, Hyundai marked a growth of 47.78 percent by selling 24,506 units this year against 16, 617 units in May 2007. Tata Motors recorded flat growth by selling 14,228 units this year against 14217 units last year. General Motors witnessed 6.12 percent growth with sales of 3847 units as compared to 3,625 units last year.
Car industry has been witnessing a steady growth since past two years and shows a healthy growth in comings months as well.
