Car sales zoom 18% in July

Car sales went up by an 18 per cent in July 2004 for the fourth consecutive month this fiscal buoyed by Maruti, Hyundai and Tata Motors.

A total of 70,589 cars were sold in the review month whereas 59,789 units were sold during the same month last year, data released by the Society of Indian Automobile Manufacturers showed on Friday.

Commercial vehicle sales, a barometer to gauge the rate of economic growth, grew 17.8 per cent at 22,724 units over 19,278 units in July last year.

Two-wheeler sales in the country, the second-biggest market in the world after China, rode northward by posting a rise of 22 per cent at 495,000 units as motorcycle and step-thru sales posted a rise of 25.2 per cent at 377,000 units.

A buoyant scooter and scooterettee segment grew at 10.1 per cent at 86,030 units and sibling moped at 19.8 per cent at 31,527 units.

Three-wheeler sales also recorded a growth of 10.8 per cent at 25,707 units.

Utility vehicle sales, which has been on an overdrive, posted a 20.5 per cent growth at 13,408 units while multi-purpose vehicle sales also grew by 1.32 per cent at 5,119 units.

The Indian automobile industry has been on an upswing and the pace of its growth helped the country enter the coveted club of nations producing one million cars a year.

The industry remained buoyant throughout last fiscal and is likely to grow this year also but, the momentum may not remain same.

Though car sales decelerated a bit in May 2004 after posting a double digit growth in April, gained speed again in the third month of this fiscal.