Indian Car Sales Soar 34%

Sales of commercial vehicles soared 52%

In a further sign of rebounding demand in Asia's third-biggest economy, Indian car sales leapt 34% in October on a 12-month basis, data showed on Nov. 11.

Domestic passenger car sales jumped 34%, while sales of commercial vehicles soared 52%, according to the Society of Indian Automobile Manufacturers (SIAM).

Domestic passenger car sales stood at 132,615 units in October, the seventh consecutive month of growth, compared with 99,052 units in the same month a year ago.

Motorcycle sales in the month rose 14.2% to 611,828 units from 535,642 in October 2008, it added.

Purchases of new vehicles traditionally rise during India's religious festival season, which began in late September and will last until December.

Many Indians regard the festival period as an auspicious time to make big purchases.

Industrial production data and recent comments by government officials indicate the Indian economy is back on track and set to return to its high growth rate of 8%-10% after slowing during the global financial crisis.

Copyright Agence France-Presse, 2009

Hide comments

Comments

  • Allowed HTML tags: <em> <strong> <blockquote> <br> <p>

Plain text

  • No HTML tags allowed.
  • Web page addresses and e-mail addresses turn into links automatically.
  • Lines and paragraphs break automatically.
Publish