INDIA CAR SALES POST FIRST GAIN IN 5 MONTHS ON RATES

India’s passenger-car sales climbed for the first time in five months in February as lower auto-loan rates spurred demand for the hatchbacks of Maruti Suzuki India Ltd., Hyundai Motor Co. and General Motors Corp.

Sales rose 22 percent from a year earlier to 115,386, the Society of Indian Automobile Manufacturers said in a statement today in New Delhi. Ten of 13 carmakers posted a gain while Renault SA, France’s second-largest carmaker, and Volkswagen AG’s Skoda Auto AS reported a drop.

Bloomberg

INDIA CAR SALES RISE 22%

India's local car sales posted their biggest percentage gain in two years in February because of an improvement in retail financing and of a lower sales base in the year-earlier period.

Sales rose 22% to 115,386 cars from 94,757 a year earlier, data issued Monday by the Society of Indian Automobile Manufacturers showed. The sales growth is the first since September 2008 and the highest since February 2007.

The Wall Street Journal

60 car launches planned through 2008

On offer would be everything from haute hatchbacks and green tech hybrids to adrenalin-dripping super premium luxe models. Not to mention the world’s cheapest automobile, the Rs 1 lakh people’s car from Tata Motors. As usual, the biggest action will be in the small car market where global best-sellers will rub shoulders with locally-developed tarmac scorchers. Maruti Suzuki will kick off the action with its Splash and A-Star concept, though the latter would be a predominantly export model. In the premium hatchback category, the Swift, Getz, U-VA troika will face competition from the likes of the Skoda Fabia and the Fiat Grande Punto, though all eyes would definitely be on the Rs 1-lakh car.

The Economic Times
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