Auto sector witnesses 37.9 per cent sales growth in October, 2010

2010, October, proved to be a very auspicious month for the Indian auto industry. The sales of cars rose to 37.9 per cent which is the result of the growing economy and increasing purchasing power of the buyers.

As per the industry, the Indian auto market growth is remarkable. The economy is growing leaps and bounds which is a positive sign as it indicates the increasing purchasing power of the customers.

As per the data, from the Society of Indian Automobile Manufacturers (SIAM), 182,992 cars were sold in October.

October, month commenced the festive season, Navratri, which is a celebration of 9 days. As per the car dealers, these days are considered to be auspicious in India. Lots of customers, wish to buy cars on this day. Apart from Navratri, Dhanteras, the first day of Diwali celebrations is also considered to be a very prosperous. The car manufacturers as well as dealers especially engage in a lot of preparations for this day. The executives before hand complete the paper work and other necessary formalities, for a smooth delivery of the cars on the particular day to avoid rush. Maruti Suzuki Dealers, this time arranged for a priest, as the company understood buyers sentiments.

As per the data collected from SIAM, not only the sales of light vehicles shot up but heavy locomotives such as trucks and buses also saw a growth of 18.17 per cent in October. The sales of the heavy vehicles were 50,835 units.

Maruti Suzuki India, became the first automobile manufacturing company in India, to achieve sale of more than a lacs cars in just one month. In October, MSI sold 107,555 cars, recording a growth of 50.32 per cent which was merely 71,551 cars last year, same period.

Hyundai Motor India, recorded a sale of 34,725 cars in October, 2010 which was 28,301 cars last year in the corresponding period.

The growing Indian auto market is attracting manufacturers from international arena also. In India, 70 per cent of the car market is in the small or hatchback segment. The manufacturers are especially crafting technological wonders which is helping them in establishing themselves in India.

Ford, the American car brand was trying hard to get a noticeable position in the Indian car market with the products such as Ford Ikon, Ford Endeavour and others. But the Amercian based car manufacturer was able to establish itself with Ford Figo. The small hatchback is engineered according to Indian standards and priced low which has helped Ford in gaining its due popularity.

Another well known car brand Toyota Motors is coming with Toyota Etios, it is Toyota's first small car which has been manufactured only for Indian buyers. As per the company insiders, the company has planned the small car to utilize the small segment of cars in India.

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