While ‘official’ sales figures have yet to be declared, March results announced by leading manufacturers have shown healthy improvements over the same month last year.
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The buoyant sales were the result of two main factors. First, customers postponed their purchase decisionss from February, expecting a reduction in prices due to the Union budget, which did not happen. The second reason was a keenness to buy before VAT was implemented in April – this tax is expected to increase car prices by up to 4% in most Indian states.
Market leader Maruti Udyog [Suzuki] sold 54,613 units, including 3,920 exports. Maruti sold 536,601 units in fiscal year 2004-05, up 13.6% over 2003-04.
Hyundai Motor India’s sales, including exports, were 23,669 units in March, a growth of 23.2% year-on-year. HMIL sold 16,315 units in India, up 18.3%, and posted cumulative sales of 224,243 cars in fiscal 2004-05, up 30%.
General Motors India (GMI) recorded growth of 35% in March 2005 to 3,516 units – the Tavera MUV alone sold 1,905 units.
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By GlobalDataHonda Siel Cars Indian sales rose 60% year-on-year to 5,154 units in March, mostly due to strong demand for the new City (a three-box sedan version of the Jazz/Fit hatchback). The company sold 4,436 units last month while the Accord sold an all-time high of 401 units and CR-V SUV sales reached 317.
Cumulative sales for the financial year were 37,480 units, up 73% over the previous year’s 21,703 units.
Deepesh Rathore / Tilak Swarup
