According to market analysts, the high car volumes seen in February were mainly on account of buyers advancing their vehicle purchases, fearing a possible price increase if the government was to hike excise duty in the Budget. Finance Minister Pranab Mukherjee however, retained excise at the same level at 10 per cent duty on small cars and 22 per cent on big cars in the 2011-12 Budget.
According to the SIAM data, total two-wheeler sales in February increased by 22.04 per cent to 1,02,2272 units from 8,37,653 units in the corresponding period last year.
Motorcycle sales grew by 20.8 per cent during the month to 7,76,051 units from 6,42,419 units in the same month last year. The growth was driven by market leader Hero Honda, which posted a 22.92 per cent increase in sales to 4,29,928 units.
Bajaj Auto Ltd posted sales of 2,05,145 units during the month, up 16.74 per cent vis-a-vis the same month a year ago.
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