Automobile industry back on growth track

The country’s automobile industry, which was going through a lean phase in line with the global trend, has bounced back by posting higher sales in four as well as two-wheeler segments during September. The auto industry has been struggling to overcome the impact of high interest rates, rising fuel costs and slackening in availability of finance, especially in the two-wheeler segment.

Market leader Maruti Suzuki, which registered a decline in August sales, has staged an impressive come back with 2.53% rise in its domestic sales during September. MSI’s domestic sales stood at 64,682 units compared to 63,086 units in the same month a year-ago.

Its total sales stood at 71,000 units as against 67,448 units in the same month last year. Maruti’s exports also grew by 44.84% at 6,318 units as against 4,362 units in the same month last year.

India’s second biggest car maker Hyundai Motor India (HMIL) also reported a domestic sales growth of 23.89% at 22,311 units in September as against that of 18,009 units in the same month last year. Its exports for the month rose by over two-fold to 23,911 units, the same stood at 9,508 units during the same month previous year.

Tata Motors also reported a 2.7% jump in its total sales during September at 49,647 units, compared to 48,347 units the same month last year. The company said total sales of passenger vehicles stood at 16,586 units in the domestic market in September, a decline of 2.5% over September 2007.

Another homegrown auto major Mahindra & Mahindra reported 31.67% jump in its sales in the month at 24,481 units over 18,593 units in the same month last year

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