Car makers,including Tata Motors,Mahindra & Mahindra and Toyota today posted record sales for the month of March on the back of customers advancing their purchases fearing price hike after the Union Budget.
About seven vehicle makers announced robust sales in March 2012 over the corresponding period a year ago with Tata Motors crossing one lakh unit sales mark and Mahindra & Mahindra selling 47,001 units the highest ever monthly sales in the history of the company.
Anticipating increase in car prices after the Budget,customers advanced their purchases,market analysts said.
As expected,soon after the Budget was announced,most car makers passed on the increase in excise duty to customers. Prices were hiked by up to Rs 3 lakh.
Toyota Kirloskar Motor (TKM) Deputy Managing Director (Marketing) Sandeep Singh said,… the demand next month could be impacted due to the increase in excise duty,registration tax and VAT.
TKM,a joint venture between the worlds largest carmaker Toyota and the Kirloskar Group,said it recorded an 87 per cent increase in car sales to 18,220 units in March,driven by highest ever monthly sales of its Etios and Liva models.
Tata Motors reported a 20 per cent jump in total vehicle sales during March at 100,414 units compared to 83,363 units sold in the same month last year.
Its total passenger vehicle sales in the domestic market rose 34 per cent at 36,984 units in March,highest ever in a month,over 27,678 vehicles sold in the year-ago period.
Mahindra & Mahindra posted 25 per cent increase in sales at 47,001 units in March.
Honda Siel Cars India,joint venture between Japanese auto major Honda and the Siel Group,recorded a three-fold jump in its sales for March 2012 at 11,016 units. It had sold 3,576 units in the same month last year
German luxury car maker Audi reported 47 per cent jump at 1,002 units.
Two-wheeler maker India Yamaha Motor posted a 14 per cent increase in its total sales at 41,886 units.
VE Commercial Vehicles,a joint venture between the Volvo Group and Eicher Motors,announced a 19.5 per cent rise in its total sales at 6,051 units in March,2012.