Despite fuel blues, auto industry grows in June
July 1st, 2008 | by admin |Rating: 0
Tuesday , July 01, 2008 at 1927 hrs Beating the fuel prices blues, automobile industry continued to show signs of recovery from last year抯 downturn with major companies, led by Hyundai and Maruti along with Hero Honda and Bajaj Auto, reporting jumps in their sales during June.
Country抯 second largest car maker Hyundai Motor India (HMIL) on Tuesday reported a 34 per cent increase in domestic passenger car sales at 21,881 units during June, against 16,335 units in the corresponding month of 2007.
The company抯 overall sales (including exports) during June were up 45.3 per cent at 40,182 units, compared to 27,653 units in the same month a year ago.
Market leader Maruti Suzuki India also reported a 2.22 per cent rise in total vehicle sales during June at 61,247 units, compared to 59,917 units in the same month last year.
The company抯 domestic sales edged up 0.7 per cent to 56,411 units as against 56,000 units in June last year.
Country抯 largest two wheeler maker Hero Honda Motors reported a 16 per cent rise in its motorcycle sales in June to 2,95,675 units, compared to 2,55,200 units in the same month last year.
With this, the company said, its cumulative sales for the first quarter of this fiscal went up by 11 per cent to 8,94,244 units, against 8,02,853 during the corresponding quarter last fiscal.
Country抯 second largest two-wheeler maker Bajaj Auto also reported an eight per cent growth in its motorcycle sales in June at 1,75,903 units, compared to 1,62,730 units in the same month last year.
The sale of two wheelers, including scooters, during the month stood at 1,77,112 units, a jump of 7 per cent over the last year抯 corresponding month抯 sale of 1,65,236 units.
