Domestic passenger car sales created a new record in February, totalling 1.89 lakh units as compared to 1.54 lakh units in February 2010 thereby growing at over 22%. Two-wheeler sales grew 22% at 10.2 lakh units during the month as compared to 8.37 lakh in February last year. Analysts said that growth was on account of customers pre-booking their vehicles owing to the Budget.
Key highlights
Total sales of vehicles across categories grew 21.32% to 13,70,932 units in February 2011, as compared to 11,30,037 units in the same month last year
In the April-February period this fiscal, car sales jumped over 30% to 17,88,503 units from 13,72,192 units in the same period a year ago
SIAM has predicted that car sales growth would moderate to around 14-16% in the next fiscal in view of high raw material prices and interest rates