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Auto sales growth in India slows down in April 2011

BS reported that after clocking strong double-digit growth numbers over the past year, automobile sales in the domestic market moderated to 13% more last month. Nine of the country’s leading car manufacturers reported off take of 187,933 vehicles in April as against the 166,221 units sold by them during the corresponding period last year.

Maruti Suzuki India Ltd, Hyundai Motor India Ltd and TATA Motors together accounting for 73% of passenger vehicles sold in the domestic market grew at 8% during the month. The growth was largely driven by smaller manufacturers such as Mahindra & Mahindra, Volkswagen, Toyota and Skoda.

MSIL had, for the time in over a year registered single digit growth of 8.9% in domestic sales at 87,144 units. The company reported average sales of a little over 100,000 units in the domestic market over the past three months. Exports too continued to be an area of concern for it declining for the seventh consecutive month to 10,011 units. This is a dip of 23% over April last year.

Mr Abdul Majeed leader automotive practice, PricewaterhouseCoopers, said that “With hike interest rates, liquidity is getting squeezed. Historically it has been noticed automobile sales are lowest in April, on account of strong sales in March. Growth rates have thus moderated in the industry.”

HMIL sold 31,636 units last month, a rise of 11% compared to 28,501 vehicles sold in April 2010. Exports fell 13% to 20,422 units dragging down overall volumes. HMIL reported a marginal increase of 0.1% in total sales last month at 52,058 units.

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