India posts record Auto Sales Growth, While China posts lowest in a year
Its a bumper month of May for Auto Sales in India – It has posted highest ever Auto Units sales in a month till date. The recent figures released by SIAM (Society of Indian Automobile Manufacturers) show production growth of 33.52 percent over same period last year with industry producing 2,715,189 vehicles.
Surprisingly, while India posted record numbers, China posted lowest growth in their Auto Sales in last 13 months. This also the first time that India has surpassed the Auto sales growth rate in China. Even in America, Auto Sales only registered a moderate growth of 16.2% in their car segment, while Trucks & SUV growth registered a growth rate of 22.4 & 23 percent respectively.
Comparatively in India, all Vehicle segments registered excellent growth rate as compared to last year – The highest was for Commercial vehicles segment, which registered growth at 61.05 percent in April-May 2010 as compared to the same period last year. In this segment, Medium & Heavy Commercial Vehicles (M&HCVs) registered growth at whooping 94.88%, while Light Commercial Vehicles (LCVs) grew at 40.08 percent.
Passenger Vehicles segment in April-May 2010 grew at 34.49 percent over same period last year. Passenger Cars grew by 34.75 percent, Utility Vehicles grew by 30.40 percent and Multi Purpose Vehicles grew by 39.15 percent in April-May 2010 over same period last year.
Two Wheeler segment also registered a respectable 25.43% growth compared to last year. Scooters, Mopeds and Motorcycles grew by 48.84 percent, 26.01 percent and 21.30 percent respectively.
Indian Car Market leader, Maruti Suzuki made a record with overall sales (including exports) crossing one lakh figure in May, with domestic sales rising 27 per cent to 90,041 units.
Ford Motors grew their sales by 4 times to 8,080 unit, mainly due to the launch of their hatchback, Ford Figo. Tata Motors also grew at 33%, while Hyundai Motor India’s sales grew by 15.53%.
It is actually quite surprising that, with these kind of growth rates Hyundai is planning to partially move its export oriented production to Turkey, mainly due to the Worker’s unrest and strikes.