Although in March India saw a rise in auto sales, the year ended 31 March showed quite a disappointing picture, although analysts expect 2012-2013 to be better.
Maruti Suzuki India Ltd was up 2% to 112,724 units, Hyundai Motor India Ltd up 23% to 39,122, led by Nano with 10,475 units, Tata Motors Ltd, India’s third largest car maker by sales, up 34% to 36,984 cars, and Mahindra and Mahindra Ltd sold 44,342 units.
Concerning the foreign carmakers, Toyota Kirloskar Motor Pvt. Ltd sold 18,220 cars in March, up 87%, Volkswagen Group Sales India Pvt. Ltd up 2% to 8,326 units, and General Motors India Pvt Ltd, Nissan Motor India Pvt. Ltd, and Honda Siel Cars India Ltd also saw a double-digit expansion.
Vishnu Mathur, director general at Society of Indian Automobile Manufacturers, predicts passenger car sales to expand 0-2% in the fiscal 2012 and that the current growth is in line with expectations. But, the annual sales figures for the top three carmakers in India, Maruti Suzuki India, Hyundai Motor India and Tata Motors, which account for 70% of car sales in the country, expanded with only 2% in fiscal 2012 in the country, which is the lowest in three years.