Car sales up 31 percent in July

It was another mixed picture in July 2009 with car sales continuing on the growth track, while truck and bus sales lagged behind.
According to the Society of Indian Automobile Manufacturers, 115,067 cars were sold during the month, an increase of 31 percent over the 87,901 cars sold in July 2008. This rise is being driven by the availability of new models like the Maruti Ritz, Honda Jazz and Fiat Punto that continued to draw buyers. Car finance has also become much more easily available which is helping to push up the numbers.
Car sales are expected to continue growing in the coming months as the festive season begins from September and manufacturers are believed to be ramping up production to meet this higher demand.
Most major car makers including Mahindra & Mahindra, Maruti Suzuki, Tata Motors and Hyundai reported that their sales were up an average of 30 percent in July this year. As for commercial vehicles, overall truck and bus sales were up almost 10 percent to 37,624 units, the first time they have increased since July last year, with light trucks helping to boost the numbers. However, medium and heavy trucks sales continued to decline, as fleet operators postpone their purchases in anticipation of a sustained recovery in economic activity. Increased finance availability also helped push motorcycle sales up almost 20 percent to 546,245 units.