Showing revival in demand, domestic car sales grew (y-o-y) for the third month in succession in July, rising 5.04%, which prompted Society of Indian Automobile Manufacturers (Siam) to hope for a 5-10% increase this fiscal. Utility vehicle sales grew a steep 18.55% while two-wheeler sales rose 13.73%. Siam director-general Vishnu Mathur said, “The negative sentiments have gone. People are coming back to showrooms. As the economy revives
we are going to see higher growth in the coming months…If the trend continues, we could end the year with anything between 5% and 10%.” Maruti Suzuki posted sales growth of 15.45% while rival Hyundai saw 12% growth.
