The Financial year 2012-2013 fazed Indian automobile business to a great extent and in spite of a lot of fresh launches and varieties of rebates, car manufacturers failed to achieve the coveted equations.
While the sale numbers of automobile business declined 7 per cent year on year basis during the past financial year, a few innovative vehicles even could not acquire an introduction ceremony. Though, almost all the vehicle sections saw sales diminution, the top selling entry-level as well as compact vehicles had big punch.
But, utility vehicles and sport utility vehicles were capable of impelling the demands.
Whilst, Duster sport utility vehicle with 40,000 unit’s sales remained as most flourishing introduction of the year for the auto giant, Renault, the Ertiga multi purpose vehicle showed itself as another winning vehicle for the well known car firm, Maruti Suzuki India.
Other vehicles, which could prove their worth for Indian consumers during the last financial year comprised Maruti’s Swift, Dzire, Toyota Innova, Hyundai i20, in addition to Mahindra XUV 500.
As far as the major performers in every section are concerned, entry level vehicles section was crested by Maruti Suzuki Alto/Alto 800 and Maruti Suzuki Wagon R remained up in compact vehicles section. In the similar manner, hatchbacks and entry level compact sedans section got headed by Maruti Swift and Swift Dzire respectively.
In the mid-size sedan section and sport utility vehicle section, Hyundai Verna and Mahindra Bolero remained on top.
Car manufacturers stated that the country’s vast population, low penetration of car ownership and growing incomes mean sales can only increase in the long term.
Market analysts stated that the clients hit hardest by the economic gloominess in the domestic market have been first-time purchasers and the rising middle class, which relies upon loaning amounts for hefty purchases.