Record 1.48 lakh cars sold in India in May 2010

The Indian Automobile industry has witnessed the best-ever car sales in the month of May 2010 with sales figures crossing the 1.48 lakh units as against, 1.13 lakh units sold in same period, last year, accounted for a jump of 30% in an year-on-year, as per the data released by the Society of Automobile Manufacturers of India (SIAM). The major contributor to this growth was the entry of a series of new compact-cars in the Indian market in the last few months including Chevrolet Beat in January 2010, Ford Figo and Volkswagen Polo in March this year and new Maruti Wagon R in April



While commenting on the performance of Indian auto-industry Mr Vishnu Mathur, director-general of SIAM, told the reporters that May 2010 is the best ever performance period by the Indian auto industry, which is expected to continue in the next half of 2010. Indian economy is growing very rapidly. The per capita income has almost touched $1,000 and that's a magical figure and also a threshold for automobile demand. he added.

According to the SIAM, stable interest rates and easy availability of finance are the major contributors in this incredible growth figure of May 2010.

Maruti Suzuki India remains the major contributor to this growth with setting a bench mark by crossing the 1 lakh unit sales mark, this month. The company sold more than 1,02,175 units during May 2010 including sales in both domestic and foreign markets.

Tata Motors, a leading car manufacturer in India, performed considerably well during this month with posting a jump of 41% in total sales at 56,779 units, as against the sales in the same month, last year.

While Hyundai India, the second largest car manufacturer in the country, reported a sales increase of 15.52 per cent in the domestic market in May 2010. The company managed to sell 27,151 units of its cars in this month as against 23,503 units sold in May 2009. Major car makers including GM, Toyota Kirloskar, Ford and Fiat India also performed considerably well during the month.

Source:- Record 1.48 lakh cars sold in India in May 2010 - New Cars