In September the auto sales in India rose 17.1 per cent. The holiday buying, festive season, easier credit and rising consumer confidence are the factors that became a reason for this rise in sales.
Passenger cars sales marked a rise of 20.6 per cent, to 129,683 units and the commercial vehicle sales also marked a growth of 6.5 percent as per Society of Indian Automobile Manufacturers.
This trend of rise in sales in the Indian car market has entered the eighth month now. The sales began to rise from the month of February this year and the reason for this could be the government stimulus measures and resilient domestic demand. So far this fiscal year, from April through September, there is a rise in car sales for up to 14.7 per cent over last year.
"September was another good month for auto sales due to increasing finance availability, improved consumer sentiments and new product launches. We expect sales to remain robust during the ongoing festive season," as written by Sanjay Doshi, Macquarie analyst.
There was also a rise of 21.6 per cent in the export of passenger vehicle but the commercial vehicle exports fell 24.3 per cent.
Maruti Suzuki had a domestic sales growth of 17.3 per cent in September. There is also a rise in the export resulting from the overseas demand for A-Star compact.
Tata Motors also had a 5.8 per cent growth in total volumes, but the export dropped by 36 per cent.