Car sales in India have shown growth for the third straight month when compared to the corresponding period last year. SIAM data reveals that a total of 137,873 units were sold in July as compared to 131,257 units sold in July 2013.
However, July saw a growth of 5 per cent which is more than the 3 per cent of May but less than the 10 per cent achieved by the industry in June. The buyer sentiment seems to be moving in the positive direction and this has been reflected in a statement from Sugato Sen, deputy director general SIAM who said, "After a long time people are buying new cars with vigour and going by the current trend, we expect a high single digit growth in this fiscal.”
The top three performers in the industry for the previous month were Maruti Suzuki, Hyundai and Honda who achieved 15.45 per cent, 12 per cent and 11 per cent growth respectively. The other end of the spectrum saw Tata Motors and Mahindra post 22 per cent and 9 per cent decline.
