Domestic car sales dip by 2.55% this October

Domestic car sales in October 2014 was 1,59,036 units; 2.55% lesser than 1,63,199, the number of cars sold in October 2013.

According to the latest sales figures released by Society of Indian Automobile Manufacturers (SIAM), the sales figures of the domestic cars have declined by 2.55% this October over the sales done in last October. The numbers of cars sold declined to 1,59,036 units in October from 1,63,199 units sold in the same month last year.

The situation improved a little from May to August, but dimmed again September onwards. September witnessed a decline of 1.03% in sales figures over last year.

Not all car manufacturers had to feel the head as Maruti Suzuki and Hyundai reported growths of 1.95% and 5.34% respectively. Honda sales, however, declined by 8.45% to 10,186 units this October. Indian players like Tata and Mahindra also had a bad October. Where Tata reported a decline of 12.33%, Mahindra reported a dip of 13.64% over last October’s sales.

On the recent figures, Sugato Sen, Deputy Director General, SIAM said, "Festival season has been subdued as compared to last year. Also, the sentiment has become positive but unless we have some real economic growth kicking in, we might not see automobile sales going up.”

Motorcycle market also felt the heat as it sold 10,08,761 units this October which is 8.73% lesser than last October’s figure of 11,05,269.

Overall, the total of number of vehicles sold was hit by a figure of 3.84% as October 2014 witnessed an overall sales figure of 17,87,146 units from 18,58,594 units sold last October.

"Motorcycle sales will remain subdued till the end of the year. It follows a pattern. Last year sales were up in October but fell in November and this year sales were up last month and fell in October," Sen said.