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Archives Our Bureau
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Mumbai, Jan. 11
• Yesterday P
Domestic auto sales in calendar 2010 rose 31 per cent to 1.48 crore vehicles, even as India
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maintained its position as the second fastest growing auto market after China (33 per cent). While the
• Datewise
car market in the last year grew around 32 per cent, the commercial vehicle (CV) market rose 47 per
Tu
• Resources cent - making India the world's fastest growing market for CVs.
• In Focus The Society of Indian Automobile Manufacturers (SIAM) warned that the growth may moderate in In
2011 to 15-18 per cent as the low base effect wears away. Other challenges include rising interest di
Top of Form rates, increasing commodity prices, higher fuel prices and weak export markets for cars.
“I am happy that the growth has not moderated in 2010. This year saw a number new launches, new B
emission norms and voluntary fuel efficiency labelling. In all, passenger vehicles (PVs) and two B
wheelers sales did well, while CV sales slowed down a bit. There were some concerns on car exports,
w w w .blonnet.co with European demand dipping,” said Dr Pawan Goenka, President, SIAM and President, Automotive D
and Farm Equipment Sectors, Mahindra & Mahindra.
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For December 2010, car sales rose 29 per cent year-on-year to 1.48 lakh units. The overall PV ex
segment, which includes utility and multi-purpose vehicles, posted 30 per cent higher sales . Market 1,
leader Maruti Suzuki's sales went up 26 per cent (89,469 units), followed by Hyundai's 18 per cent
Search (26,168 units) higher sales and Tata Motors' 30 per cent (24,592 units) sales growth.
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CV sales rose 27 per cent over December 2009, largely on the back of Light commercial vehicle sales M
rising 36 per cent (33,512 units).
pub-6238405171 S
Medium and Heavy CV sales rose 18 per cent to 28,368 units. Tata Motors' CV sales rose 27 per cent
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(37,100 units), while Mahindra also posted a growth of 27 per cent (9,730 units). Ashok Leyland's
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1 sales went up 16 per cent to 6,411 units in the month.
Dr Goenka said that rising interest rates may lead to a further hike in vehicle prices, which have gone FI
ISO-8859-1 up 7-10 per cent in 2010. Many carmakers have announced an increase of around 2 per cent in prices ca
due to rising raw material costs. Peak interest rates of NBFCs are currently at around 14 per cent for
PVs and 18 per cent for CVs. B
ISO-8859-1 “In the third quarter, interest rates have moved up 3 percentage points on an average, while the C
impact of commodity prices on material cost of vehicle is around 7-10 per cent,” he said.
O
roudra.b@thehindu.co.in in
GALT:#008000;G Related Stories:
Auto sales continue to remain on fast-track S
Auto sales falter 16% in Nov over Oct K
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