Rains Help Increase Car Sales
All of us accept that motorcycles can be really cool, but that is only true until they have us face the elements. Looking at the sales projections of last month, it seems that the same notion still stands true. In July, car sales witnessed the greatest hike in last three months. This can be attributed to low fuel prices, introduction of new models and copious rainfall.
Overall car sales increased by 13% in the month of July from a year earlier. An increase in demand for small compact cars with high fuel-efficiency was also experienced. Automakers like Suzuki, which sell cars like the WagonR and the Alto are reaping benefits. Maruti’s sales have increased by 22.5% to 110,405 units from last year. Last year, these sales increased by more than one-third to 37,752 units.
It is expected that the car sales will continue experiencing this increase, as the dealers are gearing up and piling stocks to match the increase in demand, which is experienced in the festive season that follows monsoon. Introduction of new models like the Ford Aspire, Maruti Suzuki S-Cross, and Mahindra TUV 300, also help promote car sales.
Sales of Hyundai Motor India LTD rose by 24.7% to 36,500 units in July. The Korean automaker launched its compact sport utility vehicle, Creta on 29 July.
Earlier this year, Hyundai claimed a pre-booking figure of 10,000 units before Creta’s launch and currently, there is a 6-8 month waiting period for the compact SUV.
India’s third largest car maker, Honda Cars India ltd experienced a rise of 18% to 18,606 units compared to those a year ago. The new-generation Jazz, contributed almost one-third of total sales made by the company.
Cheaper car loans and a decline in fuel prices helped reduce the cost of ownership. This coupled with launch of new models, resulted in increase of car sales.
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