Auto Industry in India grew over 20% in March
The automobile industry in India has registered a growth of 20.1 percent in the month of March, as against the sales in the same period of last year. As the prices of the cars were due for hiking in the month of March customers advanced their purchases ahead of the price hikes, but now as cars in India have become costlier, it is expected that sales of the month of April will come down to a certain extent.
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In April to June quarter, sales are usually tepid and this time with most of the purchases being crowded in January, February and March, we do not expect much sequential growth, said Surjit Arora, auto analyst with Prabhudas Lilladher, in a statement given to a leading news paper.
Cars in India have become expensive from the starting of the month of April, as car makers have increased the prices of their cars due to rise in the price of raw materials and implementation of new emission norms.
According to a figure provided by data from the Society of Indian Automobile Manufacturers (SIAM), the Domestic firms sold 155,600 cars in March as against 1,29,585 units a year ago. Sales of trucks and buses, increased 61.2 percent to 67,362 units in the month.
On the other hand sales of total passenger cars increased by 25.6 percent to 19.50 lakh.
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