Nov 27, 1999|
Car sales surge 49% in April-Oct
As reported by a leading financial daily, the auto sector continued its impressive run with both car and commercial vehicle (CV) sales clocking growth rates in excess of over 30% over the period Apriil-October 1999.
The passenger car segment posted sales growth of 48.9% (over the period April-Oct 1999) on the back of impressive growth in small car sales. Maruti posted 16.3% sales growth, with Hyundai (Santro), TELCO (Indica) and Daewoo (Matiz) also capitalising on the positive mood in the small car segment. As the three new entrants introduced their models in the latter half of FY99, growth rate is not strictly comparable.
CV sales were also on the upswing reflecting the economic mood prevailing in the country. Medium and heavy commercial vehicles (M/HCVs) continued to grow at a blistering pace (up 53.2%), while light commercial vehicle (LCVs) sales posted a modest rise of 5.3% over the corresponding period last year.
Two-wheeler sales continued to grow in line with the earlier months. Motorcycle sales were up 31.6%, while scooter sales fell 6%.
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