After the distinct possibility of declining sales with rising fuel prices, May seems to have brought good news for car manufacturers in the country, and even truck makers and two-wheeler manufacturers have reason to cheer. Latest figures released by premier industry body Society of Indian Automobile Manufacturers (SIAM) show that domestic car sales rose an annual 14.26 per cent last month while motorcycle and truck sales grew at a slower pace.
Domestic passenger car sales rose to 110,743 units from 96,923 units in the same month last year. In comparison, motorcycle sales in the country during May were up by 7.39 per cent at 513,209 units, against 477,901 units a year ago.
Total two-wheeler sales in May went up by 6.99 per cent at 647,358 units, compared to 605,014 units in the same month last year. Commercial vehicle sales during the month increased by 6.11 per cent to 35,294 units from 33,262 units for the year-ago period, SIAM said.
In April, sales had jumped an annual 17.2 per cent, the fastest pace in seven months. Dilip Chenoy, director general of SIAM, said he expected sales in June to be higher than a year earlier. However, that will be a difficult task to achieve with galloping inflation, higher loan interest rates and record prices of fuel.
(Also see: Exclusive interview with Dilip Chenoy at Auto Expo on future of India's auto industry)