NEW DELHI: SIAM (Society of Indian Automobile Manufacturers) provided some statistics which reveals that the total domestic passenger car sales for the financial year which ended in March reached upto 25 percent to 1.53 million units from the previous 12-month period.
The sale of Domestic car for the month of March rose 20.05 per cent to 155, 600 units from a year. On the other hand the sale of motorcycle for the month climbed 35.7 per cent to 708,349. This was said by the society of Indian Automobile Manufacturers. The demand is increased because of cheap financing and the launch of new model. Government stimulus packages to help the industry are also one of the greatest factor in increasing the overall growth and development. The huge sale of vehicle is due to the young population, which has got great craze for automobiles especially motor bike.
Pawan Goenka the president of the Society of Indian Automobile Manufacturers (SIAM) expresses his view that “exceptionally high” growth of the last fiscal year could be attributed to the low base figure for the previous year. It was the time period during which India and the rest of the world were under the grip by the economic downturn.
The total sales of the vehicle in March climbed upto 1.23 million units. This was up by 37.23 per cent from a year earlier. Society of Indian Automobile Manufacturers further asserted that the sale commercial vehicle is a key barometer of economic activity. This was soared in March by 61.16 per cent to 67,362 units.
