Maruti Suzuki, Mahindra & Mahindra, Hyundai sales growth on cruise control
turn around in the short-term, he added.
"Although there is a positive direction with a small interest cut by the RBI, the market is expected to improve only in the second quarter, that too if we get a growth-oriented Budget," Balendran said.
Car maker Ford India's domestic sales went down by 33.65 per cent to 6,062 units in January this year as against 9,137 units in the same month last year.
Commenting on the sales performance, Ford India Executive Director (Marketing, Sales and Service) Vinay Piparsania said: "To offset the prevailing tough conditions and introduce buoyancy into the market, we hope the government will introduce regulatory policies that are conducive to the growth of the automotive industry."
The reduction in differential between diesel and petrol prices and the recent RBI's decision to cut repo rate are progressive steps and should continue, he added.
Another car maker Renault India reported over five-fold jump in sales at 4,914 units. It had sold a total of 885 vehicles during January 2012.
On the two-wheeler category, Honda Motorcycle & Scooter India (HMSI) reported 21.63 per cent growth in its total sales for January 2013 at 2,30,304 units. Its total sales had stood at 1,89,353 units in the corresponding month of the last year.
India Yamaha Motor reported a 13.25 per cent increase in its domestic sales at 29,785 units during January 2013 compared to 26,300 units in the same month last year.
Suzuki Motorcycle India too reported 13.91 per cent rise in its sales at 39,982 units in January 2013. It had
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