Indian domestic auto market has went down by 10.43 percent to 1,50,789 units in April 2013, in compared to 1,68,354 units in FY 2012. Society of Indian Automobile Manufacturers (SIAM) released data showed, bike sales in last month lowered by 2.06 percent to 8,43,889 units from 8,61,608 units in fiscal 2012.
India's fastest growing two-wheeler market though reported 0.95 percent growth to 11,68,080 units from 11,57,114 units in the same period of last year. The commercial vehicles segment has seen a growth rate of 0.75 percent to 56,678 units from 56,257 units in the same period last year said SIAM. Sales volumes across vehicle categories reported a decline of 0.34 percent to 4,67,492 units in April 2013 against 14,72,452 units in the same month of 2012.
In recent times, the Indian auto market has been facing sluggish growth rate due to slowing down global & domestic economy growth, lacklustre demand and high interest rates.