Car sales in India grew at a slower pace 24.37 per cent with 1,94,199 units sold during March, the final month of the financial year, against 1,56,145 units sold in March last year.
India's carmakers, however, closed the financial year ended 31 March 2011 with record annual sales of 1.98 million vehicles, a 30 per cent increase from 1.53 million sold in the previous financial year, figures released by the Society of Indian Automobile Manufacturers (SIAM) showed.
Sales of motorcycles grew 18.72 per cent during the month to 8,40,941 units from 7,08,369 units in the same month last year. Total two-wheeler sales increased 19.14 per cent to 10,96,233 units in March 2011 from 9,20,154 units sold in March 2010.
Commercial vehicle sales rose 15.35 per cent to 77,688 units from 67,352 units in the same month of the previous year, SIAM said.
Total sales of vehicles across categories registered 19.42 per cent growth, at 14,65,909 units in March 2011, from 12,27,511 units in the same month last year, it added.
Auto firms attribute the high growth rate to Introduction of new models by existing and new auto makers, easier availability of low-cost loans as well as rising personal incomes in an economy which has been growing at an annual average rate of 9 per cent for the past few years.