Riding on new launches, auto sales extend momentum in April

Estimate passenger vehicles sales to grow 8-9 per cent in the current financial year, provided monsoon plays out well, said Subrata Ray, analyst with ICRA

Passenger vehicle sales at most automakers kick started on a strong note this financial year. According to the monthly data released by the auto firms, the cumulative sales volume of the country’s top six passenger vehicle manufacturers rose 11.5 per cent to 269,000 units compared to a year-ago period. The auto companies in India count dispatches to dealers as sales.

Prospects of a better economic growth, a favorable monsoon and a sustained benign interest, coupled with new model launches, perked up the sales of the fastest expanding auto market in the world. April was the sixth-month of continuous growth.  Passenger