Most passenger car manufacturers registered double-digit growth in India in March, the month in which traditionally sales spike as companies push to meet targets, according to the Financial Express newspaper.
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The paper said March sales were also boosted by company car buyers, who can maximise depreciation benefits by purchasing at the end of the financial year, and anticipated that excise duty cuts in March encouraged buyers to postpone purchases in February.
Market leader Maruti Udyog sold 63,196 vehicles in March, a 14.7% increase compared to a year ago thanks to high demand for compact cars after the excise duty cut, according to The Telegraph newspaper. For the full financial year Maruti recorded growth of 4.8% to 561,822 units.
Second-ranking Hyundai saw sales grow 26.5% in March to 30,038 units. For the full year sales were up 12%.
General Motors India also reported a 16% year-on-year growth in March, riding on sales of the Chevrolet Aveo. GM India sold 4,070 units, its highest ever monthly figure, according to The Telegraph.
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By GlobalDataHonda Siel sold 6,120 cars in March, and Skoda sold 1,467, an increase of 46% compared to March 2005.
Domestic bus and truck manufacturers also reported strong sales figures. According to Reuters, Tata Motors reported its highest ever monthly sales figure of 56,406 units, up 27% on a year earlier.
Mahindra & Mahindra reported sales of 16,394 units, up 12% on a year earlier.
