India is now 2nd fastest growing auto market

By reporting a sales growth of 26.41 per cent in the fiscal year 2009-10, the auto industry in India has become the second fastest growing auto market after China which reported a sales growth of 42 % in the same period. Besides this, the Society of Indian Automobile Manufacturers (SIAM) has also forecasts a sales growth of 10 to 14 percent for the year 2010-11.

As per the figures released by SIAM the total vehicles sales in India in last fiscal was 1,22,92,770 units as against the 97,24,243 units sold in the previous fiscal. According to SIAM the year 2010 was one of the best year for the industry as far as growth in concern.

The Delhi Auto Expo in January, which was followed by a series of new car launches, pushed the growth of this year to a record level. In the month of January the auto industry sold the highest-ever vehicles in a month. New car launches in India in this period includes Chevrolet Beat (in January), Ford Figo (in March) and Volkswagen Polo (in March).

In Year 2009-10, domestic passenger car sales jumped by 25.10 per cent to 15,26,787 units as compare to the same period of the last year.

India's top car maker, Maruti Suzuki's sales jumped 20.23 per cent during the last fiscal, at 7,65,526 units. While that of India's largest car exporter Hyundai Motor's jumped by 29.07 per cent at 3,14,967 units. Tata Motors witnessed a rise of 25.54 per cent at 2,01,399 units, as per the data provided by SIAM.

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