Car sales clock 18% growth in April

Car sales clock 18% growth in April
Highlights

Car sales clock 18% growth in April. Car sales in India rose by 18.14 per cent in April, the fastest rate of growth in 30 months, as the auto industry continued its journey on the road to recovery riding on improved consumer sentiments, new models and favourable fuel prices. However, bike sales were down 2.8 per cent.

New Delhi: Car sales in India rose by 18.14 per cent in April, the fastest rate of growth in 30 months, as the auto industry continued its journey on the road to recovery riding on improved consumer sentiments, new models and favourable fuel prices. However, bike sales were down 2.8 per cent.

According to the data released by the Society of Indian Automobile Manufacturers (SIAM), domestic passenger car sales in April stood at 1,59,548 units compared with 1,35,054 in the same month of 2014.

"We have started the new fiscal with growth in all the segments, except in three categories. For the passenger cars segment, this is the seventh straight month of growth," SIAM Director General Vishnu Mathur told reporters here. This is the fastest growth rate we have witnessed in 30 months, he added.

"The previous fastest was in October 2012 when we saw a growth of 21.19 per cent at 1,69,788 units," he said. Mathur, however, cautioned that the industry is yet to make a full turnaround after witnessing slump in the last few fiscals.

"We are still in the recovery stage. We will say we have fully recovered only when we reach the peak levels. We are far away from that as of now. Currently, not all the companies are showing growth," he said. Passenger car sales had peaked in March 2012 clocking 2,33,151 units, while that of passenger vehicles had also reported record growth in the same month with 2,95,403 units.

"When the new government took charge last year, it helped in bringing positive consumer sentiments. People began to consider buying instead of postponing. Interest rates have also not risen and moreover lower fuel prices have helped too," Mathur said.

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