Car sales up 13.11% in Feb on post-Budget price rise fear

Car sales during February surged 13.11 per cent,breaching the 2 lakh units-mark as customers rushed to buy vehicles fearing a rise in prices post the Union Budget

Written by ENS Economic Bureau | New Delhi | Published: March 13, 2012 1:43:09 am

Car sales during February surged 13.11 per cent,breaching the 2 lakh units-mark as customers rushed to buy vehicles fearing a rise in prices post the Union Budget.

“People are expecting an increase in car prices after the Budget as the government may roll back 2 per cent excise concession given as stimulus during the 2008-9 slowdown,” Society of Indian Automobile Manufacturers (SIAM) director general Vishnu Mathur said. There is also anticipation that duties on diesel vehicles would be increased.

According to the figures released by SIAM today,domestic passenger car sales grew 13.11 per cent to 2,11,402 units in February against 1,86,890 units in the year-ago period.

“The growth for the year would at best turn into a mild positive number probably something between zero and 2 per cent,” Mathur said.

However,maintaining the industry body’s pitch against any hike in the excise duty on diesel cars,he cautioned that the early momentum would be lost if the government went ahead with a duty hike on diesel vehicles.

The country’s largest car maker,Maruti Suzuki sold 1.07 lakh units,a jump of 6.02 per cent over the same period last year.

Rival Hyundai Motor India’s sales grew by 12.8 per cent to 36,805 units,while Tata Motors’ sales increased by 15.24 per cent to 40,961 units.

The total two-wheeler segment grew by 11.96 per cent to 11.44 lakh units from 10.22 lakh units for the same period last year.

Hero MotoCorp witnessed a growth of 9.5 per cent at 4,70,994 units compared to the same month a year ago. Bajaj Auto’s sales decreased marginally by 0.59 per cent to 2,03,919 units from the same month last year. Honda Motorcycle & Scooter India (HMSI) saw its bike sales going up by 39.05 per cent to 75,110 units.

However,TVS Motor Company posted a decline of 6.8 per cent in its sales at 49,067 units compared to last year. Total sales of commercial vehicles during February this year jumped by 18.7 per cent to 76,891 units from 64,775 units in the year-ago period.

FE

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