Car sales in India dip in May 2011

Latest updates in World’s automobile market suggests that Japanese car maker Suzuki Motor Corp. and Korean car giant Hyundai Motor Co. gained marginal profits in sales of passenger cars in May. But despite high sales figure, Tata Motors Ltd. profit share experienced a downfall due to high inflation, rising loan rates and increase in fuel prices.

Meenal

Published On Jun 01, 2011 16:37 IST

Published OnJun 01, 2011 16:37 IST

Last Updated OnJun 01, 2011 16:37 IST

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If reports are believed, the increase in car sales has come to halt a due to rise in car prices owing to the increase in raw material costs. Further, amplification of interest rates by the central bank also acted as major hurdle for the customers who were thinking of making the purchase. It is worth mentioning that Reserve Bank of India increased interest rate by 2.5 percentage points in nine moves since March 2010. In Indian car market, the sales of cars increased at a record 27% in FY 2010-11 to 15.51 million units but as per market analysts expects the percentage to stay in between 12%-15% this year due to the higher sales base.

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If reports are believed, Maruti Suzuki India Ltd. disclosed sales reports of May, 2011 showing 1.9% rise in car sales in May to 104,073 cars. Also, in India, car sales of Maruti India have grown 4% to 93,519 cars with exports failing to show much prospects and experiencing a fall of 13% to 10,554 cars. Further, Hyundai Motor India Ltd. announced that their car sales figures increased up to 2% to 47,766 vehicles in May, 2011 which was backed by the launch of Hyundai Verna Fluidic in May. Hyundai India received 12,000 bookings for Hyundai Verna Fluidic in the month of May alone. Additionally with the rise in number of cars entering Indian car market, Indian consumers are getting more options to choose from. And with the popularity of small cars in India gaining pace, the share of small car is increasing in the total car sales.

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Meenal

Meenal has been a writer since the time she knew what it is to write. Being a team lead at CarDekho, she guides her team to bring in fresh ideas and true stories to develop a brain storming news for the car enthusiasts across the world. Meenal started writing during her school and is continuing still. Being a post graduate in English Literature with Linguistics, Phonetics, and Grammar as her favorites, she topped throughout. And perhaps that's what helped her starting her career directly as an Editor with international clients from the very beginning. She also has been trained in and has got experience in pre-editing and master-editing journals and books. With almost 5 years of experience in journalism behind her, she still believes that she gets to learn new things about writing news every new day. She plans to start on another degree in psychology. Future plans for her include nothing more than a dynamic GROWTH for herself and SMILES on the readers' faces.Read more

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