Indian vehicle sales stayed stuck at a quite low level, much as they’ve been all through the year thus far.
High rates of interest and increasing fuel rates have hit automobile sales in the domestic market, as top car makers such as Tata Motors, Maruti Suzuki, M&M, and Toyota registered decline in offtake during the month of June.
Accompanying the increase in fuel rates (comprising diesel) and the constant high rates of interest, prospective new car purchasers have jumped away.
Not aiding matters is the actuality that even well known auto manufacturers comprising Maruti Suzuki and Mahindra & Mahindra have experienced their work cut out as the zone remains to be lethargic.
As per reports, Maruti Suzuki posted a sales figure of 84,455 vehicle units during the last month (June 2013).
This figure consists of 7,453 vehicle units for export.
In comparison, India’s top car manufacturer had registered sales of around 96,597 vehicle units during June last year (2012).
In contrast, the sale facts of utility vehicle head Mahindra & Mahindra remained at 38,092 vehicle units as compared to 41,322 vehicle units in June last year.
Hyundai India, in the meantime, gained from a very minute break in sale figures, recording just around 1% increase in Indian sales for the last month (June 2013).
Indian sale facts made around 30,610 units and exports remained at 24,057 vehicle units as against 30,450 and 23,904 vehicle units respectively in June last year.
Other key participants in the country’s automobile market including Tata Motors, Toyota, M&M, and GM also posted decline in sales.
But, Honda stated that its sales during the last month remained up by248% to 9,297 vehicle units.
In a report, Mr. Jnaneswar Sen, senior VP, marketing and sales, Honda Cars India, stated, “We are very pleased with the consumer reaction to Amaze that has exceeded all anticipations and is further earning momentum. We already have over 18,000 contented Amaze clients and we expect to append many more in the coming time.”